CAL had no financing for a/c order past 2010
03-06-2013, 08:41 AM
#51
Line Holder
Joined APC: Feb 2013
Position: 737 Captain
Posts: 29
Originally Posted by LAX Pilot
The new ALPA merger policy includes longevity, so it's possible that a furloughee has more longevity than an active pilot.
Ask the USAir folks how that argument worked in their SLI mess.
03-06-2013, 08:43 AM
#52
Banned
Joined APC: Oct 2010
Position: IAH 737 CA
Posts: 690
Originally Posted by Pilotbiffster
If you honestly think 2005 CAL pilots are going to get stacked on top of '96 UAL pilots during the SLI, then I want some of what you're smoking. CAL junior captains, enjoy your seat now until the next furlough/surplus cycle. Absent that, enjoy sitting reserve for the next 10 years.f
Ahhh, wanting to take what's not yours. Always a sign of a desparate individual and an 83 or 84 hire. Can we add you name to the illustrious list?
03-06-2013, 09:14 AM
#53
Line Holder
Joined APC: Feb 2013
Position: 737 Captain
Posts: 29
Don't forget what great shape L-UAL was in before the merger...
Pawn stars!!! Pawning their own spare parts. Smart...
************************************************** ********
United Airlines Sells $175 Million of Three-Year Debt (Update1)
By Megan Johnston and Mary Schlangenstein - June 26, 2009 17:30 EDT
June 26 (Bloomberg) -- UAL Corp.’s United Airlines sold $175 million of three-year senior secured notes to boost cash as a decline in business travel reduces revenue and fuel prices lift operating costs.
The 12.75 percent debt priced at 90.07 cents on the dollar to yield 17.1 percent, according to data compiled by Bloomberg. The notes are guaranteed by all of UAL’s aircraft spare parts in the U.S., Chicago-based UAL said today in a filing with the U.S. Securities and Exchange Commission.
United is the third major carrier since May to issue debt or sell shares to help build cash reserves heading toward the weak fall travel period. United has said its second-quarter unit revenue, a measure of travel demand and fares, will fall as much as 21 percent this quarter.
The United offering has “unattractive terms,” but is “reflective of the challenging credit markets and somewhat vulnerable credit profile of UAL as perceived by lenders,” Hunter Keay, a Stifel, Nicolaus & Co. analyst who rates UAL “hold” wrote in a report today before the transaction was complete.
United said June 4 it would negotiate with Boeing Co. and Airbus SAS for a possible order for as many as 150 aircraft. An arrangement with Boeing or Airbus that provided some liquidity in exchange for a large order was seen by Keay as United’s “best option.” The liquidity would come from a so-called leaseback arrangement, which would preserve United’s cash.
“This is not off the table, but UAL now has $500 million less unencumbered assets to finance such a scenario,” Keay wrote.
Citigroup Inc. and Goldman Sachs Group Inc. underwrote the sale, Bloomberg data show. The securities are likely to be rated B2 by Moody’s Investors Service and B+ by Standard & Poor’s.
UAL last sold debt in 2007, Bloomberg data show.
“It is another step we’re taking to enhance our liquidity,” said Robin Urbanski, a spokeswoman for Chicago- based United.
To contact the reporters on this story: Megan Johnston in New York at [email protected]; Mary Schlangenstein in Dallas at [email protected]
To contact the editor responsible for this story: Alan Goldstein at [email protected]
Pawn stars!!! Pawning their own spare parts. Smart...
************************************************** ********
United Airlines Sells $175 Million of Three-Year Debt (Update1)
By Megan Johnston and Mary Schlangenstein - June 26, 2009 17:30 EDT
June 26 (Bloomberg) -- UAL Corp.’s United Airlines sold $175 million of three-year senior secured notes to boost cash as a decline in business travel reduces revenue and fuel prices lift operating costs.
The 12.75 percent debt priced at 90.07 cents on the dollar to yield 17.1 percent, according to data compiled by Bloomberg. The notes are guaranteed by all of UAL’s aircraft spare parts in the U.S., Chicago-based UAL said today in a filing with the U.S. Securities and Exchange Commission.
United is the third major carrier since May to issue debt or sell shares to help build cash reserves heading toward the weak fall travel period. United has said its second-quarter unit revenue, a measure of travel demand and fares, will fall as much as 21 percent this quarter.
The United offering has “unattractive terms,” but is “reflective of the challenging credit markets and somewhat vulnerable credit profile of UAL as perceived by lenders,” Hunter Keay, a Stifel, Nicolaus & Co. analyst who rates UAL “hold” wrote in a report today before the transaction was complete.
United said June 4 it would negotiate with Boeing Co. and Airbus SAS for a possible order for as many as 150 aircraft. An arrangement with Boeing or Airbus that provided some liquidity in exchange for a large order was seen by Keay as United’s “best option.” The liquidity would come from a so-called leaseback arrangement, which would preserve United’s cash.
“This is not off the table, but UAL now has $500 million less unencumbered assets to finance such a scenario,” Keay wrote.
Citigroup Inc. and Goldman Sachs Group Inc. underwrote the sale, Bloomberg data show. The securities are likely to be rated B2 by Moody’s Investors Service and B+ by Standard & Poor’s.
UAL last sold debt in 2007, Bloomberg data show.
“It is another step we’re taking to enhance our liquidity,” said Robin Urbanski, a spokeswoman for Chicago- based United.
To contact the reporters on this story: Megan Johnston in New York at [email protected]; Mary Schlangenstein in Dallas at [email protected]
To contact the editor responsible for this story: Alan Goldstein at [email protected]
03-06-2013, 01:25 PM
#55
Gets Weekends Off
Joined APC: Mar 2012
Position: B777 CA - SFO
Posts: 728
Originally Posted by Airhoss
6 Blade just curious,
When you look at your airline issued ID what does it say on it?
How was Cal doing six years ago in 2007? Did they have anybody on furlough then?
When you look at your airline issued ID what does it say on it?
How was Cal doing six years ago in 2007? Did they have anybody on furlough then?
We recorded net income of $459 million for the year ended December 31, 2007, as compared to net income
of $343 million for the year ended December 31, 2006. The improvement in net income for 2007 was primarily the
result of higher revenue. However, our results for the year were adversely impacted by a significant increase in fuel
prices and a special non-cash charge of $104 million to increase our deferred tax asset valuation allowance. The
increase in fuel prices in recent years has caused most U.S. domestic carriers to reduce capacity and increase fares.
2007 Financial Highlights
Operating revenue grew 8.4% during 2007 as compared to 2006 due to more flights, higher load factors and
increased domestic and international yields.
Operating income, a key measure of our performance, increased 46.8% during 2007 as compared to 2006 due to
increased operating revenue.
Unrestricted cash, cash equivalents and short-term investments exceeded $2.8 billion at December 31, 2007.
The 132 furloughs didn't happen until Sept 2008.
03-06-2013, 02:05 PM
#56
Gets Weekends Off
Joined APC: Jan 2012
Posts: 230
Originally Posted by Airhoss
6 Blade just curious,
When you look at your airline issued ID what does it say on it?
How was Cal doing six years ago in 2007? Did they have anybody on furlough then?
When you look at your airline issued ID what does it say on it?
How was Cal doing six years ago in 2007? Did they have anybody on furlough then?
03-06-2013, 04:19 PM
#57
Line Holder
Joined APC: Feb 2013
Position: 737 Captain
Posts: 29
Originally Posted by Airhoss
6 Blade just curious,
When you look at your airline issued ID what does it say on it?
How was Cal doing six years ago in 2007? Did they have anybody on furlough then?
When you look at your airline issued ID what does it say on it?
How was Cal doing six years ago in 2007? Did they have anybody on furlough then?
How many were furloughed in 2007.... hmmm none. We were hiring and filling Captain seats.... You at UAL were too. But unfortunately they were Republic and Skywest 70 seat jobs.
When we did furlough in 2008, it was 132 total. They are all back on the property now, think it was a 3 year furlough. How long have the LUAL been out on furlough? Actually don't answer that. I know the answer.
Any other questions...
No one at the LCAL of this equation has ever come on this board and said that they are going to be above a LUAL pilot... We do rebut a LUAL bogus and hyper inflated delusional thought that a furloughed LUAL unemployed pilot will be senior to a 2005 hire that has 2000 pilots below them on the list....
03-06-2013, 05:22 PM
#58
Gets Weekends Off
Joined APC: Apr 2008
Position: Sleeping in the black swan’s nest.
Posts: 5,709
How many were furloughed in 2007.... hmmm none. We were hiring and filling Captain seats.... You at UAL were too. But unfortunately they were Republic and Skywest 70 seat jobs.
In 2007 UAL had just finished recalling all of the original 2172 furloughs and was hiring new hires by late 2007/early 2008.
Any other questions...
We do rebut a LUAL bogus and hyper inflated delusional thought that a furloughed LUAL unemployed pilot will be senior to a 2005 hire that has 2000 pilots below them on the list....
----------------------------------------------------------------------------
Max,
Hoss, what does his ID have to do with it?
It's ok to toss stuff out about Cal, but god forbid someone put something out about UAL it becomes an ID thing... This is the typical response from a UAL guy.
Whats your ID say?
Looks like the UAL steamroller isn't working like you thought...
03-06-2013, 05:40 PM
#59
Gets Weekends Off
Joined APC: Mar 2008
Posts: 1,083
Originally Posted by 757Driver
Yawn, who cares?
Incredibly funny that some of you that think your little gems of information will make one bit of difference with the upcoming SLI.
My suggestion would be to sit back, relax and let your respective Merger Committee's handle this. The results will be the same with or without your supposedly valuable input and at its completion every single Pilot, sans the number one guy, will be pi$$ed off.
If you really can't keep it to yourself and just have to share these invaluable nuggets with someone may I suggest that you do it privately with your respective Merger Committee to avoid letting top-secret information out in the open for the opposing team to see?
Incredibly funny that some of you that think your little gems of information will make one bit of difference with the upcoming SLI.
My suggestion would be to sit back, relax and let your respective Merger Committee's handle this. The results will be the same with or without your supposedly valuable input and at its completion every single Pilot, sans the number one guy, will be pi$$ed off.
If you really can't keep it to yourself and just have to share these invaluable nuggets with someone may I suggest that you do it privately with your respective Merger Committee to avoid letting top-secret information out in the open for the opposing team to see?
03-06-2013, 06:15 PM
#60
Need More Callouts
Joined APC: Dec 2005
Position: Unbridled Enthusiasm
Posts: 2,143
Originally Posted by XHooker
Yeah, but you gotta admit it's perversely entertaining like reality TV. Fight on boys and girls.
The truly sad part is that some of these scholars think that if they say it enough times, not only is it true, but it will sway the SLI process in some way. Good luck with that.
Waste of bandwidth IMO.
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