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.
More Quotes from Philip Baggaley:
A situation where you have United, Delta and Northwest all in bankruptcy does make it easier to think about further consolidation.Philip Baggaley
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.
Philip Baggaley
We did that based on how much they need to accomplish in less than two months with their other labor groups. This strike stretches out the likely time frame with the others unions at least a bit.
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
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
As you shrink an airline, you also reduce your revenue- generating ability. Obviously, they'll try to shrink the unprofitable markets.
Philip Baggaley
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