Qb001
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Posts: 1923
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Air Canada: Not Out Of The Wood Yet

Tue Jun 24, 2003 9:41 pm

The dispute between AC and its pilots is taking a turn for the worst. The big "B" word keeps surfacing back.

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1056406212719&call_pageid=968350072197&col=969048863851
Never let the facts get in the way of a good theory.
 
Boeing757/767
Posts: 2179
Joined: Tue Jun 29, 1999 11:05 pm

RE: Air Canada: Not Out Of The Wood Yet

Tue Jun 24, 2003 10:04 pm

I say fire all the pilots and run a non-union shop. I can't believe these guys are putting the airline -- and their future -- at risk over seniority lists. Grow up!
Free-thinking, left-leaning secularist
 
captaingomes
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Joined: Tue Feb 13, 2001 1:33 am

RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 12:22 am

This is a very bad situation. Yes, by voting no to the concessions, they are being short-sighted, but this really is a big issue, and they have reason to bicker about it. The pilots are being played by the company much moreso than any other employee category, so it's normal for these things to happen.

I'd like to see them vote yes, of course, but I think they should have the ability to work out the issue of seniority on the side. There must be a sollution to this, and it's in the interest of all employee groups as well as the company and unions to work out a sollution.

Boeign757/767, you of course realize how unrealistic it would be to fire all the pilots right? That would mean the airline would have to shut down for a few months, then very slowly start up again. It would take many more months just to reach the desired capacity. In the end, definitely not realistic.
"it's kind of like an Airbus, it's an engineering marvel, but there's no sense of passion" -- J. Clarkson re: Coxster
 
Boeing757/767
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Joined: Tue Jun 29, 1999 11:05 pm

RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 12:24 am

Of course I know it's unrealistic. Just wishful thinking.
Free-thinking, left-leaning secularist
 
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c172akula
Posts: 821
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RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 12:43 am

I was just reading an article in the Calgary Herald this morning. Apparently GE capital leasing may be taking action against the carrier soon as well. They could apparently seize up to 75 aircraft, plus another 25.
 
captaingomes
Posts: 6251
Joined: Tue Feb 13, 2001 1:33 am

RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 12:46 am

What are the implications though of the judge extending bankruptcy protection to September 30th from June 30th? Doesn't that mean that GE and others can't take action until then? Or am I misunderstanding it?
"it's kind of like an Airbus, it's an engineering marvel, but there's no sense of passion" -- J. Clarkson re: Coxster
 
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yyz717
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RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 1:03 am

I hope GE does seize a large number of AC aircraft. This will immediately force AC to downsize its network overnight and reach agreement with its remaining creditors very quickly. The reduced capacity would increase yields and profits.

A mass aircraft seizing could also result in a complete shutdown (or even liquidation) of AC which might be healthy for the industry in the long term.

Here's hoping anyway.



I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.
 
Mark_D.
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RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 1:41 am

Yyz717--I hope GE does seize a large number of AC aircraft. This will immediately force AC to downsize its network overnight and reach agreement with its remaining creditors very quickly. The reduced capacity would increase yields and profits.

A mass aircraft seizing could also result in a complete shutdown (or even liquidation) of AC which might be healthy for the industry in the long term.

Here's hoping anyway.



Nothing like a little "Chainsaw Al" kinda talk, to brighten up everyone's day  Laugh out loud


About GECAS, they're apparently just a bit rankled that AC management saw fit to work out the (3 puny A321) deal with GATX a few days ago, before looking after them first instead! They'll get things worked out. Just like the remaining ACPA recalcitrants for their part too.

 
Cessnapimp
Posts: 1245
Joined: Sun Oct 07, 2001 11:46 am

RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 3:16 am

What I find odd is the 700 mil GECAS loan being on condition that Milton stays?

How odd... hey Yyz717, finance guru, explain...  Laugh out loud

Grégoire
 
fallingeese
Posts: 2031
Joined: Sat Apr 28, 2001 2:33 pm

RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 3:24 am

It's more than having Milton stay, it's having the entire upper management of Air Canada stay. Yet now GECAS is thinking of seizing aircraft....Air Canada really knows how to goof some stuff up.
Mark McWhirter...Contrails Photography
 
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yyz717
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RE: Air Canada: Not Out Of The Wood Yet

Wed Jun 25, 2003 12:17 pm

What I find odd is the 700 mil GECAS loan being on condition that Milton stays?

I agree....it's extremely odd. Despite making every single strategic error in the book AND driving AC into bankruptcy, Milton has managed to retain (thus far) the confidence of the BoD and GECAS.

My money is on Milton falling fast and hard in the coming months.
I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.

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