dutchjet
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US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 12:45 am

There were very strong rumors that US would file for bankruptcy protection once again......its was predicted that the filing would occur this morning, Sunday, September 12.

So far, no news...........is no new good news in this case?

It has been reported that US and its Unions have reopened talks; US is looking to amend its agreements with unions to save $200+ million in labor costs.

Any further updates?
 
S12PPL
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 1:19 am

The day is quite young...give it time Big grin
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burnsie28
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 1:22 am

I was just about to say that its not even 12:30 on the East Coast.
 
HPA320
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 1:27 am

Hope everything goes fine.

In this case, It may be 5 o'clock somewhere, but not for US.

I hope nothing bad happens  Smile
America West Airlines. 1983-2005. The Journey Continues...
 
haveric
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 1:31 am

i think the most recent offer to the pilots led to reopened negotiations and thus a delayed filing. so long as the sides continue to talk, US will not file.
 
A330323X
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 2:21 am

They'll wait as long as possible today to see what sort of progress they make in the labor negotiations, and also to keep it out of the news for the majority of the day.

I've also heard that if they think they're making very good headway with the pilots, they might wait until tomorrow, when the IRS is allegedly supposed to rule on whether US can reschedule some of the AFA/IAM pension payments.
I'm the expert on here on two things, neither of which I care about much anymore.
 
frugalqxnwa
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 2:54 am

I agree that US is probably waiting to see whether the labor negotiations go well or not, and I hope they go well. I do not think the pilot's union is going to force US into bankruptcy, their willingness to talk being evidence enough for that. Most of the airline unions learned from UA's unions what not tod do when management is whole heartedly trying to keep the company afloat. How is the current CEO at US doing? I haven't heard much about him since he took over the reins from David Seigel.
 
bucky707
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 3:16 am

to quote Jack Palance in City Slickers "day ain't over yet"
 
DLKAPA
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 3:21 am

This is some good news, the Airline's saving grace (at least for a few hours or days) might be the pilots. But any time spared is time enough to work hard.
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
LAXintl
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 4:01 am

While the company did provide a new offer to the pilots on Friday, there are not talks scheduled at the moment. Same goes with the flight attendants.

The offers might very well be intended as simply for posturing in court to provide for a frame work to try following once in Ch11.
From the desert to the sea, to all of Southern California
 
jmc1975
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 4:20 am

I would think they would wait until Monday to make an official announcement about their fate.
.......
 
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EA CO AS
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 4:34 am

I would think they would wait until Monday to make an official announcement about their fate.

Not necessarily - their first BK trip was announced on a Sunday.

It also depends on the nature of their fate. If they're filing Chapter 11 reorganization (again), then either Monday or Tuesday will work, along with Sunday.

If it's a Chapter 7 liquidation, then you have the orderly shutdown of the airline to take into consideration - something best handled LATE on a Sunday.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group
 
Jaxs170
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 4:51 am

Can anyone agree on this: If US 2 to FCO doesn't go out and the rest of the Europe bound flights follow suit that is probably the signal that it's over?
707, 717, 727, 732/3/4/5/6/7/8/9, 752, 762/3/4, 744, 772, MD-80/2/3/8, DC-9, F-100, A319/20/21, A333, DC-10, MD-11, ARJ,
 
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EA CO AS
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 4:58 am

If US 2 to FCO doesn't go out and the rest of the Europe bound flights follow suit that is probably the signal that it's over?

For a Chapter 11 filing, that won't be the indicator.

For a Chapter 7 filing, absolutely.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group
 
dutchjet
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:02 am

Its very, very unlikely that US would file a Chapter 7 liquidation petition with the bankruptcy court.....if anything is filed, it will probably be a Chapter 11 reorganization which should not dramatically affect day to day operations of the airline over the next couple weeks. Later into the proceeding, the creditors, if they think its in their best interest, may attempt to convert the proceeding to a liquidation and even then, it is probable that the airline will not simply shut down but instead services would be shut down over a period of time in an orderly fashion. All of this could take months to happen......first, lets see if US can make some progress with its employees and unions and avoid another bankruptcy proceeding altogether; any bankruptcy filing by US will have a dramatic impact on the airline and is likely to cost lots of jobs....the second time around in bankruptcy court in such a short period of time will be extremely difficult for US in any case.

Lets hope for the best.......we are talking about the potential loss of lots of jobs and the loss of a huge airline with lots of history. Maybe US can figure out a way to survive.
 
ua777222
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:05 am

I can't say that that is competely correct Jaxs170.

Maybe they are taking a sit back and thinking of a reduction both routes. They can't shrink their fleet any more b/c they are at their min. a/c numbers. This is a recurring theme between the airlines. They're overshooting the runway, so to say. You can't start at the head of the race. And this race just started after 9/11. It's going to take a whole lot more than flight cuts and other job "downsizing" measures.

The airlines that are currently SOL are the ones that need to chop what they have and make due while they're still a bit a head of the race. It can get a whole lot uglier for US and if something isn't done that's what's going to happen.

If capt. 7 comes knocking on their door then hell yes. It'll be like the Swiss MD-11's and other airline fleet a/c parked for good. I don't think chapt. 11 will cause this at all. And if it does it's not the end. Well not for now.

Thanks again.

UA777222
"It wasn't raining when Noah built the ark."
 
Leskova
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:10 am

Jaxs170, US192 from CLT to FRA is scheduled to leave in about 20 minutes (local time 4:30pm) - this seems to be the first Europe bound flight of the day, so I guess this would be the one to watch.

In any case - I sincerely hope that US Airways can pull through.

Regards,
Frank
Smile - it confuses people!
 
DeltaWings
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:12 am

US probibly underestimated themselves. They cut back a lot of routes and jobs and started saving money faster then they expected. Lets hope this is true. Well Alitalia isnt gone yet either.....

DeltWings
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DLKAPA
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:15 am

Airline Us Airways
Flight Number 2
Departure City (Airport) Philadelphia, PA (PHL)
Departure Time 09/12/2004 06:38 PM
Arrival City (Airport) Rome, Italy (LIRF)
Arrival Time 09/13/2004 08:21 AM
Remaining Flight Time 07:43 (scheduled)
Aircraft Type
Current Altitude 0 feet
Current Groundspeed 0 mph
Flight Status Scheduled


So far so good. Guess we'll know in a couple hours, eh?
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
AlitaliaORD
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:19 am

Wait, am i missing something? why are we all concerned about the flight to FCO?
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airways6max
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So Far No Bankruptcy For US Airways

Mon Sep 13, 2004 5:21 am

We really can't predict when or if US Airways will file for bankruptcy. We'll know the outcome soon enough.
 
Jaxs170
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:24 am

Well thanks for ruining my idea Mr Frank Leskova  Laugh out loud
707, 717, 727, 732/3/4/5/6/7/8/9, 752, 762/3/4, 744, 772, MD-80/2/3/8, DC-9, F-100, A319/20/21, A333, DC-10, MD-11, ARJ,
 
DLKAPA
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:24 am

AlitaliaORD:

Flight to Rome is the first international departure this evening. If it gets cancelled, then all the others are also cancelled behind it, you can pretty well bet that USAirways has landed itself in the history books.
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
AlitaliaORD
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:28 am

ok not to sound like an idiot, but would that be all US flights or just international ones?
Joy To The World, All The Boys and Girls, Joy to the Fishes in the Deep Blue Sea, Joy to You and Me
 
AA717driver
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:29 am

I doubt they will go straight to Ch. 7. They will probably go Ch.11 first and upon finding that no one will step up with funding, the meltdown will start.

Here's what happens: In the middle of the night(whenever the shutdown is decided upon), contract security descends on the assets(TWA favored Brinks) and secures them.

This keeps angry employees from 'scorching the earth'. It also keeps creditors from jumping over the bankruptcy court and absconding with their collateral.

For you USAir crews out there, if they do file a second time, be advised that your fuelers, caterers and layover hotels may only accept cash on the barrell. It happened to me after TWA filed--despite AA having already announced they were buying us out. I'll always have warm-fuzzies for the IAH Sheraton...

Enjoy the ride.TC
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mariner
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:29 am

aeternum nauta
 
DLKAPA
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:30 am

Probably just international, as they would be anticipating Chapter 7. If they are to actually announce Chapter 7, then it will be all flights, and all flights in the air would continue to their destination.

My guess is that the reason they cancel only international flights is because they want to keep their assets close to ease the liquidation process.

Keeping our fingers crossed.
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
Leskova
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:34 am

Smile - it confuses people!
 
deltadude8
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:35 am

Well US #192 was supposed to be leaving 4 min. ago but hasnt and its status is ontime.?
 
DLKAPA
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:41 am

Flytecomm has the departure listed as 4:08 EDT. Still about ten minutes away as of this post.

Airline Us Airways
Flight Number 192
Departure City (Airport) Charlotte, NC (CLT)
Departure Time 09/12/2004 04:48 PM
Arrival City (Airport) Frankfurt, Germany (EDDF)
Arrival Time 09/13/2004 06:51 AM
Remaining Flight Time 08:03 (scheduled)
Aircraft Type A333
Current Altitude 0 feet
Current Groundspeed 0 mph
Flight Status Scheduled
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
propilotjw
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:42 am

Yeah they filed today? I didn't think they'd go into 11, I thought it would have been straight into 7. How long do you think US will be around? Think they will recover?
 
DLKAPA
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:45 am

Just because it is Chapter 11 doesn't mean that they have bought time. It is very unlikely that they find someone who is willing to bail them out of this one.

My thoughts are with all the employees.
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
kith
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US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:56 am

This is the end....my only friend the end....(To quote the Doors). Good song, good luck Usairways, our airports home airline, birthplace, and only carrier. Our hearts and hopes are with the employees, stranger things have happend, they may just find a financial backer....we can hope anyways. -Matt in KITH
 
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BNE
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RE: US Airways - Its Sunday, So Far No Bankruptcy

Mon Sep 13, 2004 5:57 am

Ouch this is bad, now there is a link on the USAirways front page.
Maybe time to lock this thread and continue with the new thread.

http://www.airliners.net/discussions/general_aviation/read.main/1737973/
Why fly non stop when you can connect

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