Philip Baggaley
Philip Baggaley
cash contracts fuel hopes labor losses unions
Northwest's hopes of negotiating concessionary labor contracts with its unions were overtaken by the surge in fuel prices, which deepened the airline's losses and cash outflow.
fuel losses prices year
Probably not. Particularly with fuel prices where they are. But they have been narrowing their losses every year in bankruptcy.
almost certain losses possibly profit small united
It's almost certain losses will decline. American, Continental and possibly United could show a small profit this year.
environment expect external likely loss report
The external environment is still very difficult, and we expect that they're likely to report a loss this year.
added bankruptcy financial hasten likely occur pressure within
The added financial pressure may hasten an already likely bankruptcy filing, which will probably occur within weeks.
avoiding bankruptcy chances slim
The airline's already slim chances of avoiding bankruptcy are dwindling rapidly.
factor huge improved improvement picture revenue swing
The revenue picture has improved and this is a huge change. The big swing factor is the long-awaited improvement in pricing.
change daily gut subject
It's very much a gut feel, subject to change on a daily or hourly basis.
against approving change eager groups including labor precedent switch toughest voted
It won't take much of a switch to change the result, ... There's also the precedent of the other labor groups approving it, including the mechanics, who were thought to be toughest sell. I don't think even those who voted against it are eager to go into bankruptcy.
agreement avoiding bankruptcy card cash chances collateral credit disclosure dollars extend fuel indicate million post prices processing recent slim
The recent surge in fuel prices and Delta's disclosure that it will have to post 750 million dollars of cash collateral to extend its credit card processing agreement indicate that the airline's already slim chances of avoiding bankruptcy are dwindling rapidly.
fuel labor likely major three
Those three factors, pension, labor and fuel prices, will likely be the major consideration as they come up to Oct. 17.
fuel labor likely major three
Those three factors, pension, labor and fuel prices, likely were the major considerations.
aircraft assets borrow carriers cushion face fail financial forced gradually legacy quickly recent
During the recent downturn, the legacy carriers have gradually used up their financial cushion of aircraft and other assets they can borrow against. If they are forced to face a new crisis, they may fail more quickly than they have in the past.
bankruptcy company early example felt financial heading position pursue relatively stronger survive toward
They are another example of a company that started out in a relatively stronger financial position than their peers, and they felt they were in better position to survive a shakeout. They didn't pursue cost-cutting as aggressively as they would have if they were heading toward bankruptcy early in the (industry's) downturn.