Hold on for a minute here. Having been through a Chapter 7 at Pan Am, I can lend a little bit of first hand information on what happens. Once you declare c
Chapter 7, you must ground all flying at once. You may be allowed to have crews ferry a/c back to maintenance bases but no revenue flying is permitted.
Once all of that takes place, you then must inventory every one of your assets, ranging from airframes and powereplants down to pillows and blankets. Everything. At Pan Am that took a group of us just in excess of 6 months. Only after the inventory is complete and a dollar value assigned can anything be auctioned off or sold. All of these events must be court approved. It's a long and laborious event.
Now the real question on this thread would be how a US shutdown would be at DCA
. Let me tell you, there is not one airline that either the equipment or the personnel to try and go into someplace and start up a "turnkey " operation. They just don't exist. As for an impact on the cities listed in previous posts, I'd like to point out too that there is a huge impact whenever you suddenly remove the list of available seats in any market on a given day. Another airline may fly a few extra sections or even upgrade equipment to help stranded passengers, but that is more out of a sense of humanity than it is to make a quick buck.
Finally, someone was comparing this to the DL
/PA deal in 1991. That was entirely different than this situation. Delta was already to take over Pan Am months before they actually did. Pan Am was to have been left with Pan Am II
based in MIA
and flying 727's and A-300's throughout the Caribbean. Suddenly Delta execs realized that Pan Am was bleeding them dry with cash infusions into an already dead animal and decided not to back the birth of Pan Am II
. That's when we shut down the airline and filed for Chapter 7 liquidation.
It'll all work out in the end though, just as it has with other grand airlines like EA
just to name 2.
The employees left behind are the ones hurt the most. Airlines are not like the general workplace out there. People tend to stay with airlines for longer durations than other's in the workplace. The end result is that you have some quite senior people who have given most of their adult life working for one company and suddenly one day there's nothing left. I was one of the lucky ones, but I know literally hundreds who were not as fortunate as myself. Take that and multiply it by all of the airlines that have faded in the past 15 years and you'll find a significant number of affected people. For the employees of US, I hope somehow they can weather this storm, although I don't see how. My thoughts and prayers go out to all of you.