United Airlines heading for certain bankruptcy - TennisForum.com
 
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post #1 of 13 (permalink) Old Dec 5th, 2002, 11:02 AM Thread Starter
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United Airlines heading for certain bankruptcy

A government panel has voted against an application for $1.8 billion in federal loan guarantees.

This was their last hope of survival

good thing I booked my vacation with American

UNITED AIRLINES=FUCKED
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post #2 of 13 (permalink) Old Dec 5th, 2002, 11:10 AM
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US Airways rocks!

Nobody´s perfect ... but me.

Chanda Rubin Anastasia Myskina

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Barbara Schett Silvia Farina Elia

Klara Koukalova Iva Majoli

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post #3 of 13 (permalink) Old Dec 5th, 2002, 11:16 AM Thread Starter
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Quote:
Originally posted by caramel
US Airways rocks!
yeah ? check out the internal memo below

US AIRWAYS=FUCKED


To IAM Members at US Airways,

Representatives from Districts 141 & 141-M, and the US Airways Labor Coalition met with US Airways. management today to discuss the carrier's worsening financial crisis.

US Airways. management notified the employee representatives that an additional $200 million in annual cost reductions from changes in work rules and benefits are needed to help the bankrupt carrier improve its operations.

US Airways. targeted cost reductions from District 141-M members include:

. Elimination of aircraft receipt and dispatch by Mechanic & Utility employees.
. Reduce the Utility function at PIT, CLT, and PHL to only thru-flight cleaning.
. Outsource lavatory and potable water servicing.
. Discontinue using Mechanics to de-ice aircraft.
. Outsource plant maintenance work.
. Outsource Ground Equipment maintenance (GSE) from all stations except BOS, CLT, LGA, PIT, and PHL.
. Daily maintenance checks to be performed by vendors.
. Eliminate occupational injury (OJI) bank.
. Delete real estate provisions in plant closings.
. Eliminate the two percent 401(k) match.

From District 141 members, US Airways is seeking to:

. Outsource aircraft catering without restriction.
. Outsource mail and cargo operations.
. Remove Fleet Service employees from Class II stations with less than 28 flights weekly.
. Add four daily mainline flights at Class II stations without adding Fleet Service personnel.
. Add seasonal mainline flights to express stations.

Additionally, US Airways is seeking the following changes that would affect all IAM members:

. Double employee contributions for medical benefits.
. Mid Atlantic contract provisions to mirror those at American Eagle.
. In case the United States goes to war with Iraq, US Airways will seek an immediate five percent .wage deferral. for up to 18 months.

In return, the company proposes to maintain a minimum of 279 aircraft and offered an .enhanced. profit sharing plan for participating employees.

Additionally, US Airways hastily closed its Tampa, Florida maintenance facility early this morning, forcing more than 500 IAM members out of work two days before Thanksgiving. IAM attorneys are looking into the legality of the closing.

A conference call between Union Coalition members and US Airways management to obtain further details of management.s plan will take place tomorrow morning. Labor Coalition members will discuss US Airways. condition in a conference call on Friday, November 29, 2002.

When IAM members recently ratified modifications to their US Airways agreements, it came with the company.s assurance that the revisions were all US Airways needed to successfully emerge from bankruptcy. The leadership of Districts 141 and 141-M are in agreement that additional changes to our collective bargaining agreements are not acceptable, as the company has not established that such revisions are justified. IAM members have already answered US Airways. distress call, and acted responsibly. US Airways needs to work within the framework they designed to find solutions to their latest situation.

We will keep you updated as developments occur.

Sincerely and fraternally,

S.R. (Randy) Canale
President and General Chairman
District 141

Scotty Ford
President and General Chairman
District 141-M
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post #4 of 13 (permalink) Old Dec 5th, 2002, 01:44 PM
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Quote:
Originally posted by Car Key Boi




US AIRWAYS=FUCKED


Now you made me cry... dammit!

Nobody´s perfect ... but me.

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Barbara Schett Silvia Farina Elia

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post #5 of 13 (permalink) Old Dec 5th, 2002, 01:44 PM
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nooooooooooooooooooooooooooooooooo
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post #6 of 13 (permalink) Old Dec 5th, 2002, 01:46 PM
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But Delta still rocks!

Nobody´s perfect ... but me.

Chanda Rubin Anastasia Myskina

Francesca Schiavone Paola Suarez

Barbara Schett Silvia Farina Elia

Klara Koukalova Iva Majoli

Marat Safin is all mine.

*caramelized.net*

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post #7 of 13 (permalink) Old Dec 5th, 2002, 11:28 PM Thread Starter
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yuo heard it from me first last nite

UNITED AIRLINES=FUCKED

in today's trading the company lost 59% of it's stock value

i repeat FIFTY NINE percent of the value of the company wiped out in one day

trading in United Airlines has been suspended by the New York Stock Exchange due to "pending news" ie, the news that I told yuo guys last night

it is certain that United Airlines will now file for Chapter 11 bankruptcy. I have been told by some former colleagues at JP Morgan that this filing will probably happen within the next few days.

UA employs something in the region of 80,000 people, and trust me when I inform yuo that this will be, by far, the largest bankruptcy in aviation history.
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post #8 of 13 (permalink) Old Dec 5th, 2002, 11:40 PM
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United was losing money before 9/11. The management in control of the airline has been screwing the airline. I wouldn't say United is "fucked." Bankruptcy doesn't mean they won't fly again. US Airways filed for bankruptcy and they are still flying.

You can say an airline is fucked when it starts to sell itself off. Pan Am and TWA are prime examples of this. They started going down hill after they started selling routes to raise cash. I wouldn't be surprised to see UAL sell some routes. The South American routes would be the first to go. United does have two goldmines: A dominate presence in the Pacific region (Asia), and access to Heathrow airport in London. US Airlines are wanting both of these. So if United were to stop operating a price war is most likely to start over these lucrative routes between the US Airlines.

United Airlines and American Airlines are the two airlines that are in serious trouble. United more than American. Continental isn't in bad shape. Delta isn't doing that great, but they have a lot of cash on hand. I think the same for Northwest.
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post #9 of 13 (permalink) Old Dec 6th, 2002, 12:04 AM
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Trading on United's stock was halted today at something like $1.25 a share. I remember back in 1989, when it was the target of a take-over, it once traded at almost $300.

This is not good news...especially for major cities where United operates maintenance hubs. One of those hubs is located here in Indianapolis, and it employs 7,500 people...who I'm sure are very anxious about the security of their jobs
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post #10 of 13 (permalink) Old Dec 6th, 2002, 12:14 AM Thread Starter
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Quote:
Originally posted by GoMonica
United was losing money before 9/11. The management in control of the airline has been screwing the airline. I wouldn't say United is "fucked." Bankruptcy doesn't mean they won't fly again. US Airways filed for bankruptcy and they are still flying.

You can say an airline is fucked when it starts to sell itself off. Pan Am and TWA are prime examples of this. They started going down hill after they started selling routes to raise cash. I wouldn't be surprised to see UAL sell some routes. The South American routes would be the first to go. United does have two goldmines: A dominate presence in the Pacific region (Asia), and access to Heathrow airport in London. US Airlines are wanting both of these. So if United were to stop operating a price war is most likely to start over these lucrative routes between the US Airlines.

United Airlines and American Airlines are the two airlines that are in serious trouble. United more than American. Continental isn't in bad shape. Delta isn't doing that great, but they have a lot of cash on hand. I think the same for Northwest.
yes, US Airways did indeed file for chapter 11 and are indeed still flying, just

read my internal memo above, they are still in desperate trouble. Those 500 dudes that were laid off just before Thanksgiving is only the start. Also, check out the details of that memo, they're gonna reduce the quality of their staff and service in regard to aircraft maintenance and outsource a ton of other services

do I wanna fly US Airlines? no thunk yuo very much
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post #11 of 13 (permalink) Old Dec 6th, 2002, 12:34 AM
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I see this going badly for a lot of people. United will implode. It's competitors will pick up the slack, bringing themselves closer to capacity. And their planes will likely be sold, cheap, because I doubt anyone needs planes right now. The after-effect of a fire-sale is decreased orders to companies like McDonnell Douglas and Boeing.

You have to answer for Santino, Carlo.
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post #12 of 13 (permalink) Old Dec 6th, 2002, 02:00 AM
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Quote:
Originally posted by disposablehero
I see this going badly for a lot of people. United will implode. It's competitors will pick up the slack, bringing themselves closer to capacity. And their planes will likely be sold, cheap, because I doubt anyone needs planes right now. The after-effect of a fire-sale is decreased orders to companies like McDonnell Douglas and Boeing.
McDonnell Douglas is Boeing now, they merged like 3 years ago.

I don't think United will stop flying, they have filed for bankrupcty and some restructuring will come, probably downsizing but they'll keep going.
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post #13 of 13 (permalink) Old Dec 6th, 2002, 10:45 PM Thread Starter
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Quote:
FAA to fine United Air Lines for repairing wing holes with tape

WASHINGTON (Reuters) - U.S. regulators have proposed an $805,000 fine against financially ailing United Airlines for improperly using tape for wing repairs on three Boeing 757 aircraft, the Federal Aviation Administration said on Wednesday.
The agency claimed that the No. 2 carrier, a unit of UAL Corp. that is trying to avoid bankruptcy, performed temporary repairs on aircraft ground spoilers that did not meet its own maintenance standards or those included in the manufacturer's maintenance manual.

Ground spoilers are panels on the wings that are used to help keep the plane stable and on the ground during landing.
Last March, inspections revealed that one spoiler panel on each plane had a single small hole. Each was patched with a special tape that can be used in similar circumstances but should not have been used in these three cases, the FAA said.

Regulators said United then operated the planes for a combined 193 flights over several weeks before making permanent repairs.
United will contest the proposed fine, saying it was not warranted because the alleged violation was not an airworthiness issue.

"At no time did we operate the aircraft in an unworthy state or condition that would render the aircraft unsafe or put our passengers at risk," said Joe Hopkins, a company spokesman.
they could have saved more $$$ by cutting patches out of empty beer cans found in the cockpit.

on a serious note, if United is liquidated or resized, other airlines may end up with their planes, complete with their creative repair work.

Also, now that UA mechanics may be looking at long-term unemployment, it's possible that some United parts and supplies will find their way on to the black market. If an intermittent fault in a dynamic thingamabob is reported, the mechanic can put a fresh coat of spray paint on the dynamic thingamabob, put it back in the plane, and sell the new one on eBay instead.

I've seen this kind of thing happen before in several bankruptcy cases in the automobile industry.

Do I wanna fly United Airlines? even a restructured and downsized UA? no thunk yuo very much

UNITED AIRLINES=MORE FUCKED THAN IT WAS 2 DAYS AGO
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