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Northwest Sets Up Financing For Bankruptcy Exit  
User currently onlineKarlB737 From United States of America, joined Mar 2004, 3122 posts, RR: 10
Posted (8 years 3 months 5 days 12 hours ago) and read 3776 times:

Courtesy: KARE-TV

Northwest Sets Up Financing For Bankruptcy Exit

http://www.kare11.com/news/news_article.aspx?storyid=129753

22 replies: All unread, jump to last
 
User currently offlineDALelite From Switzerland, joined Jun 2000, 1770 posts, RR: 25
Reply 1, posted (8 years 3 months 5 days 10 hours ago) and read 3636 times:

Good to hear!

DALelite



They loved to fly and it showed..
User currently offlineIndy From United States of America, joined Jan 2005, 4570 posts, RR: 18
Reply 2, posted (8 years 3 months 5 days 5 hours ago) and read 3440 times:

Wow they didn't waste any time did they? Good for them. And here I was thinking they still had a couple years left to work under the protection of bankruptcy Big grin

I'm glad this is about over. I hope they have cut their expenses enough to be able to turn a profit after the exit.



Indy = Indianapolis and not Independence Air
User currently offlineSX36 From United States of America, joined Jan 2006, 73 posts, RR: 0
Reply 3, posted (8 years 3 months 5 days 5 hours ago) and read 3425 times:

Excellent news. I fly NW exclusively and will continue to do so for many years. I was always confident NW would pull through and for all intents and purposes they have. Great Job!


NW, the only way out.....
User currently offlineNitrohelper From United States of America, joined Mar 2005, 469 posts, RR: 5
Reply 4, posted (8 years 3 months 5 days 5 hours ago) and read 3401 times:

Great news for NWA employees, this will slow down the chapter 7 talk. Maybe the DC-9s will keep flying for a few more years.

User currently offlineBR715-A1-30 From , joined Dec 1969, posts, RR:
Reply 5, posted (8 years 3 months 5 days 1 hour ago) and read 3263 times:

Quoting Nitrohelper (Reply 4):
Maybe the DC-9s will keep flying for a few more years.

It will be VERY sad to see them go... But still, One must remember, NW didn't even WANT the DC9s at first... their 9s came from other airlines, and not ONE ever came from Long Beach wearing NW colors. .

I miss the DC9-10.


User currently offlineCentrair From Japan, joined Jan 2005, 3598 posts, RR: 20
Reply 6, posted (8 years 3 months 5 days ago) and read 3239 times:

Is this really exit financing or is it management bonuses?

Someone had to say it.

I am very happy that NW is doing this. I use NW almost exclusively and I look forward to what they are going to do in the next few years. They have Compass, the 787s, possible E-jets, Asian and European Expansion, better dealings with Skyteam, expansion of MSP and maybe some movement on the 787 options...  crossfingers  787-9, 787-10, 773ER  crossfingers 



Yes...I am not a KIX fan. Let's Japanese Aviation!
User currently offlineNWDC10 From , joined Dec 1969, posts, RR:
Reply 7, posted (8 years 3 months 5 days ago) and read 3218 times:

I'm so glad for NW. I hope DL is close behind. Let's hope that all airlines make money in the near term and in the future. Robert NWDC10

User currently offlineNWCOflyer From United States of America, joined Jun 2003, 692 posts, RR: 14
Reply 8, posted (8 years 3 months 5 days ago) and read 3209 times:

This is good news. Anybody know how much longer they plan on operating under ch. 11 protection?

On a side note... I just wonder how badly all of these concessions for NW employees were really needed though. I mean don't get me wrong, cut backs were needed, but this massive labor restructuring sure has left a lot of already beleaguered employees even more upset.

Hopefully everyone at NW can put the past behind them and move forward. NW is one of my favorite airline's out there, I wish everyone the best.

[Edited 2006-07-20 08:35:01]


The New American is arriving.
User currently offlineDesertFlyer From United States of America, joined Nov 2005, 515 posts, RR: 0
Reply 9, posted (8 years 3 months 5 days ago) and read 3202 times:

I am in Amsterdam in the moment thanks to NWBig grin The service was great and am glad to see they are starting the exit plan from Chapter 11. Maybe once NW is a bit more streamlined and out of Chapter 11 they'll start turning a profit once again.

User currently offlineBurnsie28 From United States of America, joined Aug 2004, 7553 posts, RR: 8
Reply 10, posted (8 years 3 months 4 days 15 hours ago) and read 3067 times:

Good, too bad the plan doesn't also include the removal of one Doug Steenland.


"Some People Just Know How To Fly"- Best slogan ever, RIP NW 1926-2009
User currently offlineBennett123 From United Kingdom, joined Aug 2004, 7690 posts, RR: 3
Reply 11, posted (8 years 3 months 4 days 14 hours ago) and read 3009 times:

According to the Times today, KLM and Delta Airlines have agreed a code sharing agreement to cover flights between Europe and the United States.

How will this affect NWA?.


User currently offlineBobnwa From United States of America, joined Dec 2000, 6490 posts, RR: 9
Reply 12, posted (8 years 3 months 4 days 14 hours ago) and read 2990 times:

Quoting Bennett123 (Reply 11):
According to the Times today, KLM and Delta Airlines have agreed a code sharing agreement to cover flights between Europe and the United States.

How will this affect NWA?.

It will not affect NW at all. They supported the agreement, as it will result in more revenue for NW if more passengers fly on KL trans-atlantic due to the DL codeshare.

[Edited 2006-07-20 18:32:53]

User currently offlineBennett123 From United Kingdom, joined Aug 2004, 7690 posts, RR: 3
Reply 13, posted (8 years 3 months 4 days 14 hours ago) and read 2959 times:

Wo'nt they then fly on Delta?.

User currently offlineKL565 From United States of America, joined Jun 2006, 45 posts, RR: 0
Reply 14, posted (8 years 3 months 4 days 14 hours ago) and read 2953 times:

NWA and KLM share all revenue on their trans-atlantic ops..it's does not effect them...

User currently offlineJano From Slovakia, joined Jan 2004, 827 posts, RR: 4
Reply 15, posted (8 years 3 months 4 days 12 hours ago) and read 2864 times:

Quoting Bennett123 (Reply 11):
According to the Times today, KLM and Delta Airlines have agreed a code sharing agreement to cover flights between Europe and the United States.

How will this affect NWA?.

It's codesharing beyond their respective hubs, not codesharing on TATL flights.



The Widget Air Line :)
User currently offlineBobnwa From United States of America, joined Dec 2000, 6490 posts, RR: 9
Reply 16, posted (8 years 3 months 4 days 10 hours ago) and read 2776 times:

Quoting DesertFlyer (Reply 9):
Maybe once NW is a bit more streamlined and out of Chapter 11 they'll start turning a profit once again.

They are already 15% smaller than a year ago and have made an operating profit for the past 2-3 months. I call that streamlined and profitable.


User currently offlineFlyDreamliner From United States of America, joined Jan 2006, 2759 posts, RR: 15
Reply 17, posted (8 years 3 months 4 days 9 hours ago) and read 2719 times:

NW is trimming their domestic routes, focusing on their more profitable routes, and using their sizable fleet of 752, 752, A320, and A319 aircraft for increasingly more long range domestic flights. The DC-9s will be phased out, and they will offer the new regional compass product in their stead. The big news though is that NWA will be launching a very large asian expansion with their underused 744 fleet and decent sized 787 fleet on order, freeing up the A332 running pacific routes now to power a small expansion into europe. NWA seems to have the plan to survive, even without the merger. UA, watch out, NWA is making a big run for the asian market.


"Let the world change you, and you can change the world"
User currently offlineAirRyan From United States of America, joined Mar 2005, 2532 posts, RR: 5
Reply 18, posted (8 years 3 months 4 days 8 hours ago) and read 2707 times:

As good as it all sounds, don't forget that the courts allowed them to basically urniate on their employees to reach this level and guess who will be the ones coming out smelling like roses? Sorry, I don't necessarily view this as a victory. You take even the most modest of companies in nearly any industry and make the cuts that they were able to do in the guise of bankruptcy, well that is what you get - the only surprise would be if they didn't emerge and turn a profit. Isn't it all but apparent that NW only entered Ch11 just so they could strongarm and bust their unions?

User currently offlinePositiverate From United States of America, joined May 2005, 1590 posts, RR: 8
Reply 19, posted (8 years 3 months 4 days 8 hours ago) and read 2691 times:

Quoting Nitrohelper (Reply 4):
this will slow down the chapter 7 talk

What Chapter 7 talk?

What will be interesting is the outcome of the pension bill workign its way through Congress, and the impacts on exit financing that has on NW.


User currently offlineBurnsie28 From United States of America, joined Aug 2004, 7553 posts, RR: 8
Reply 20, posted (8 years 3 months 4 days 7 hours ago) and read 2601 times:

Quoting FlyDreamliner (Reply 17):
NW is trimming their domestic routes, focusing on their more profitable routes, and using their sizable fleet of 752, 752, A320, and A319 aircraft for increasingly more long range domestic flights

Wrong, NW is once again increasing domestic flying.

Quoting FlyDreamliner (Reply 17):
The DC-9s will be phased out, and they will offer the new regional compass product in their stead

Wrong again, Compass will not replace the DC-9's, on some routes it will compliment it, the EMB-190/195 which is expected will replace the DC-9 on mainline, while the 170 will replace essentually the RJ-85's. The DC-9 is still probably not going to be gone until at least 2012.



"Some People Just Know How To Fly"- Best slogan ever, RIP NW 1926-2009
User currently offlineTLG From United States of America, joined Jul 2005, 377 posts, RR: 0
Reply 21, posted (8 years 3 months 4 days 3 hours ago) and read 2504 times:

I'm sincerely glad to see things looking up for NW since I fly them most of the time I travel by air. Without them the service at my local airport (LSE) would be almost nothing! What I don't like about the cost reductions though is that the money is basically going from the employees to the oil companies!

-TLG


User currently onlinePSU.DTW.SCE From United States of America, joined Jan 2002, 7653 posts, RR: 27
Reply 22, posted (8 years 3 months 4 days ago) and read 2445 times:

Whether you like it or not, NW had a set agenda going into Ch. 11, and they are rapidly checking off items on the list. NW had somewhat of a pre-packaged Ch. 11 filing and has used bankruptcy to clean house much faster than they would have without filing.

Specifically, NW has used Ch. 11 to gut labor contracts, reject leases, void vendor contracts, and renegotiate aircraft leases to become a leaner & meaner airline. Even prior to their filing, NW had a made a lot of cuts to reduce costs in many areas operationally.

I'm not going to open the labor issue, which is a very unfortunete situation that it came to this, but look at the industry as a whole. Everyone had to go through this.

Burnsie - more than likely once NW is out of Ch. 11, Chainsaw Steeland will be out. He was brought in to be the bad guy during restructuring and thats part of his deal. Remember he reports to the BOD, and they have a very specific agenda to help fix the sinking ship. Now, whether he can sleep soundly at night is another story.


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