Unions, investors & employees be aware!
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Unions, investors & employees be aware!
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Bluffing? Have you seen the passengers counts? No need to bluff. There is a serious revenue issue. How would you solve it? Details not generalizations? Easy throw rocks from the cheap seats of the scope committee.Quote:
Originally Posted by NoOtPilot
You are looking in the wrong direction. You will see!Quote:
Originally Posted by Meatloaf
The situation is lot worst than you can imagine.
But nothing unrecoverable. It will take time, money, creativity and imagination. Something that Frank Lorenzo was really good at it.
has not expenses also diminished? Labor was free until October 1st too.....Quote:
Originally Posted by Meatloaf
I'm looking in the direction of bankruptcy. If there isn't a bigger recovery, someone will liquidate.Quote:
Originally Posted by NoOtPilot
AAG is burning 20 million/dayQuote:
Originally Posted by Cujo665
Thank god its 20 million a day, it was 70 million a day not to long ago. But I get by with 10 dollars a day.
In April it was $70M a day, in June it was under $35M a day, and in July it went back up to $55M a day....Quote:
Originally Posted by Meatloaf
Including the recent government cheese they should have close to $14B in liquid cash on hand. It's 20 days to burn $1B if there is zero income, which we know there is. How much is coming daily is the mystery. If they say they are losing $20M a day, then we could assume they generate $35M a day which would total the $55M a day in costs they claimed publicly two months ago.
Payroll was paid by the government, Tomorrow the cash burning per day will change. Can an airline approaching $50 Billion in debt recover?Quote:
Originally Posted by Meatloaf
Or is Parker setting it up for...
“The Perfect Bankruptcy” under “The Perfect Storm”
Only 15% $$$ coming in revenue in 2Q and expecting only a 20-25% of revenue in the 3Q.
The second wave of furloughs(all departments) could come between February & March 2021.
“At American we had our revenues were down some 85 percent in the second quarter.”
-Doug Parker-
27 September 2020
Quote:
Originally Posted by NoOtPilot
excellent catch !!
Once the bankruptcy card is played, AA stops paying many of its bills and financial outlay drops dramatically. That process will last at least 6 months and possibly up to a year. A lot of debt will be dumped including the remaining pensions (distressed termination). The question is what airline will come out the other side. It will be smaller, that’s for sure and like I previously asserted, it means the benefits of a rapid retirement stream of senior pilots won’t benefit the junior in advancement.
For example, if AA shrinks by 1/3, that’s 5-6 years until recall of all furloughees.
Let’s hope JetBlue stays away from AA...lots of young pilots there could offset the benefits of rapid retirements. But that will be the sequel of this movie. Let’s get the red flags 🚩 back...this industry will use them AAgain in 10 years.Quote:
Originally Posted by Beagleboy
Spoiler AAlert-Dacuj goes to the moon.
Cool go **** yourself. Ohhh.. ban me. Showed me💪💪Quote:
Originally Posted by NoOtPilot
Unions, Investors & Employees, not necessarily in that order...but the ****ing has begun. Not to worry, Parker is not going to let you down. Remember, he is on his way out, but has a DIRTY job to do, before he walks away with his golden parachute and the next guy takes over. Nothing new here, just the same old playbook, written by Frank Lorenzo. Unfortunately is always the same people that pay the ultimate price, over and over again. The good news is, it will be over in less than 3 years.Quote:
Originally Posted by v1rotate
Then, AMERICAN WILL SUCCEED!