KarlB737
Topic Author
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Joined: Sat Mar 20, 2004 9:51 pm

Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 3:04 am

Courtesy: KARE-TV

Northwest Sets Up Financing For Bankruptcy Exit

http://www.kare11.com/news/news_article.aspx?storyid=129753
 
DALelite
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 5:17 am

Good to hear!

DALelite
They loved to fly and it showed..
 
Indy
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 9:59 am

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
 
SX36
Posts: 72
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 10:04 am

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.....
 
nitrohelper
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RE: Northwest Sets Up Financing For Bankruptcy Exi

Thu Jul 20, 2006 10:18 am

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.
 
BR715-A1-30
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 2:43 pm

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.
Puhdiddle
 
centrair
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 3:04 pm

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!
 
NWDC10
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 3:25 pm

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
 
nwcoflyer
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 3:33 pm

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.
 
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DesertFlyer
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Thu Jul 20, 2006 3:40 pm

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.
 
burnsie28
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 12:31 am

Good, too bad the plan doesn't also include the removal of one Doug Steenland.
 
bennett123
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 1:22 am

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?.
 
bobnwa
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 1:29 am

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]
 
bennett123
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 1:40 am

Wo'nt they then fly on Delta?.
 
KL565
Posts: 45
Joined: Thu Jun 08, 2006 3:29 am

RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 1:44 am

NWA and KLM share all revenue on their trans-atlantic ops..it's does not effect them...
 
Jano
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 3:12 am

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 :)
 
bobnwa
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 5:20 am

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.
 
flydreamliner
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 6:48 am

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"
 
AirRyan
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 7:02 am

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?
 
positiverate
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 7:07 am

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.
 
burnsie28
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 8:48 am

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.
 
TLG
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 12:35 pm

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
 
PSU.DTW.SCE
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RE: Northwest Sets Up Financing For Bankruptcy Exit

Fri Jul 21, 2006 3:04 pm

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.