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.
More Quotes from Philip Baggaley:
A bankrupt airline is anxious not to lose customers, especially business travelers, and may be wary of cutting service below competitors' levels for fear of confirming passenger suspicions that the company is not long for this world.Philip Baggaley
The external environment is still very difficult, and we expect that they're likely to report a loss this year.
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
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
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.
Philip Baggaley
I think it's entirely possible they'll use the grace period (on the bonds) if they haven't heard from the ATSB by Monday, ... However (the end of the grace period on) Dec. 16 may be more of a make or break deadline.
Philip Baggaley
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