The revenue picture has improved and this is a huge change. The big swing factor is the long-awaited improvement in pricing.
More Quotes from Philip Baggaley:
The pilots are the last major labor group to reach a preliminary agreement (except for striking mechanics who have been replaced) and the largest source of labor savings being sought by the airline.Philip Baggaley
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.
Philip Baggaley
An airline doesn't wait till it's down to its last dollar to file, ... It'll be difficult to keep dragging it out. Without new financing, from a purely cash perspective, they are already in trouble to be assured they can reorganize in bankruptcy.
Philip Baggaley
The main benefit will be to corporations and small businesses. It's a significant consumer benefit but not necessarily to your average person in the street who is planning on taking a vacation.
Philip Baggaley
Maintenance work is often outsourced, especially at the low-cost carriers, ... I think it weakens labor's hand generally, but I wouldn't extend this to all other types of labor negotiations. American found out a number of years ago they couldn't fly through a flight attendant strike.
Philip Baggaley
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