In addition, such an outcome would encourage other employee groups to join unions to improve their bargaining position in future contract talks.
More Quotes from Philip Baggaley:
Those three factors, pension, labor and fuel prices, will likely be the major consideration as they come up to Oct. 17.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
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
As you shrink an airline, you also reduce your revenue- generating ability. Obviously, they'll try to shrink the unprofitable markets.
Philip Baggaley
That is high, particularly for an investment-grade company.
Philip Baggaley
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.
Philip Baggaley
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