I am here...
First COEWR is a fool to predict the demise based on the current situation. Oil is down $10 a barrel this week alone.
TWA has been in tighter cash poisitions before. They are a survivor airline and will continue to survive.
The new planes and West Coast operations that COEWR says there is no money for are all ready occurring. LAX traffic continues to grow with a 60% increase since last year and the Caribbean continues to grow as well.
No new planes... Hmpphh.. Are you blind? In the last 5 years alone.... 27 Brand new 757-200s 15 717-200s 24 brand new MD83s 3 brand new 767-300ERs and then the newer (but used catagory includes) 5 767-300ERs and 47 MD83s. The A318,319,320 are due on property in 2003.
TWA is better than any other major in operational numbers holding the highest operation completion and the highest on time numbers for three years running.
As for growth. TWA is now #2 in the Caribbean with only AA having more traffic.
As for comparing old timetables to new ones... Well TWA is flying more RPMs to more destinations than anytime in the past. Better double check the destination list and the number of flights. Just because they are not flying 747s to Europe hardly means they are dead. It is easy to stereotype and hard to look at the facts when it debunks your beliefs. Yes cash is tight. The payments to the 401K are contractually permitted to be deferred. The IAM and ALPA know that. The ALPA union acknowledged it. The IAM is negoiating a contract starting January. I believe they are posturing. It is a large part of their antiquated work rules that put TWA where it is today (along with Icahn and Hughs and others) The JFK hanger situation is one major example. Others are catering trucks requiring a TWA mechanic on board and mechanics being required for walk arounds and push backs. (Of course this may make TWA safer then other majors with only 1 accident (TWA800) in 20 years, (Many claim TWA 800 was a missle and coverup not the wiring)
Also the MCI maint. base has had a lease signed that includes a 300 million bond issue that will result in the base being upgraded and overhauled... That will make it much easier for TWA to subcontract work as well as do its own with upgraded facilities and tooling..
My take is TWA will survive.. Many have called for TWAs demise over the last 13 years. They have all been wrong. Wall Street said they would lose 1.63 a share last quarter they were off .26 a share.
In 2003. Ameriflot, Unitafolt, and the financially ailing TWA.