What's the Latest at ASA/Expressjet?
06-15-2014, 10:14 AM
#6391
On Reserve
Joined APC: Apr 2014
Posts: 12
And this is where I blame not only our inept management but UNION for f*cking this thing up. We could have had a deal a long time ago if the lifers could have settled on which crappy bidding system to use. But no, we half a lifetime fighting over PBS vs line-bidding so that one side could have more control over picking a crappy 23 hour 4-day vs. a crappy 21 hour 4-day.
5 Years. 5 YEARS is what we're coming up on here. Take a moment and think deeply about what things can be done in 5 year time frame. If someone were to have come to you 5 years ago and said "I'll bet you $100,000,000 that your guys won't have a deal done half a decade from now", would you take that bet?
Newflash: Nobody is going to hit the jackpot with this JCBA. Send this crap to binding arbitration like Compass did and let's get on with our lives.
5 Years. 5 YEARS is what we're coming up on here. Take a moment and think deeply about what things can be done in 5 year time frame. If someone were to have come to you 5 years ago and said "I'll bet you $100,000,000 that your guys won't have a deal done half a decade from now", would you take that bet?
Newflash: Nobody is going to hit the jackpot with this JCBA. Send this crap to binding arbitration like Compass did and let's get on with our lives.
THIS.
Shame on everyone involved. It took 5 years to build the Hoover dam, but we still can't get past the easy stuff in regards to a JCBA. This is like the North Koreans and the UN fighting about the placement of the chairs and flags in the room during peace negotiations. They still don't have a proper settlement, and we don't (or won't) either.
06-15-2014, 11:51 AM
#6392
Banned
Joined APC: Jan 2013
Posts: 170
Rumor from multiple sources is that XJT is preparing to declare bankruptcy.
06-15-2014, 12:09 PM
#6393
Gets Weekends Off
Joined APC: Dec 2007
Posts: 618
I didn't read the last quarterly call or read the future guidance, but the stock is not trading in anyway of a company thats about to file BK.
06-15-2014, 01:35 PM
#6394
Gets Weekends Off
Joined APC: Oct 2009
Posts: 3,108
I'm not an expert on Xjet balance sheet but how could they be in the spot? The parent company still paying a dividend of 1.2% to shareholders and the stock price is giving no indication or showing volatility. I would be willing to bet your rumor is not true.
I didn't read the last quarterly call or read the future guidance, but the stock is not trading in anyway of a company thats about to file BK.
I didn't read the last quarterly call or read the future guidance, but the stock is not trading in anyway of a company thats about to file BK.
06-15-2014, 02:00 PM
#6395
Gets Weekends Off
Joined APC: Dec 2007
Posts: 618
If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.
06-15-2014, 02:38 PM
#6396
Gets Weekends Off
Joined APC: Oct 2009
Posts: 3,108
Don't know for sure. But Skywest stock is an indications of all their holdings. If Xjet was about to go under the stock would act very erratic. Put it this way, if XJet was about to go under Skywest would not be paying a dividend to shareholders. I personally don't think XJet can file without Skywest being included. Just because Xjet may be losing money doesnt mean they are in a position to file BK. Again I haven't seen the balance sheet for xjet.
If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.
If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.
Should be easy enough to find out if XJT can file and not Skywest. Seems like they are 2 separate companies under the Skywest umbrella. I'm guessing XJT can file separately.
Their exposure to small jets is vast. Losing money. And probably violating their agreements with Legacy carriers due to lack of pilots.
06-15-2014, 03:02 PM
#6397
Gets Weekends Off
Joined APC: Dec 2007
Posts: 618
You have to do what's in best interest of the share holders. I don't see how you can file when you only lost 22 million last quarter. Most of that lost was weather related. If they filed the shareholders lose everything. They can go back to their creditors and restructure the leases and downsize xjet.
"Due primarily to the severe weather and its related effects during the quarter ended March 31, 2014,
SkyWest experienced a significantly larger pretax loss than it previously anticipated."
Read the call, no way, no chance a bk is near.
http://inc.skywest.com/invest/invest...Q2014%20v9.pdf
"Due primarily to the severe weather and its related effects during the quarter ended March 31, 2014,
SkyWest experienced a significantly larger pretax loss than it previously anticipated."
Read the call, no way, no chance a bk is near.
http://inc.skywest.com/invest/invest...Q2014%20v9.pdf
06-15-2014, 04:40 PM
#6398
Gets Weekends Off
Joined APC: Sep 2010
Posts: 2,648
Don't know for sure. But Skywest stock is an indications of all their holdings. If Xjet was about to go under the stock would act very erratic. Put it this way, if XJet was about to go under Skywest would not be paying a dividend to shareholders. I personally don't think XJet can file without Skywest being included. Just because Xjet may be losing money doesnt mean they are in a position to file BK. Again I haven't seen the balance sheet for xjet.
If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.
If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.
06-15-2014, 05:03 PM
#6399
Gets Weekends Off
Joined APC: Dec 2007
Posts: 618
Wake the duck up!!! Bankruptcy is the way of the airlines. It gives them the green light to immediately shed or restructure airplane leases, and restructure all labor contracts. H$ll, they can restructure all their contracts to become more cost competitive. Look what American just did, and remember the pile of cash they had in the bank when they filed. Also, consider the benefits of having multiple companies under an Inc umbrella. Mesaba, part of MAIR Holdings, also had millions in the bank when they filed in 2005, but Big Sky Airlines wasn't included. I'm not saying Skywest will go this route, but current bankruptcy laws in conjunction with the Railway Labor Act heavily favor the airlines.
06-15-2014, 05:43 PM
#6400
Gets Weekends Off
Joined APC: Dec 2007
Posts: 314
I went through one. Not good. You'll end up getting pennies on the dollar for your sick time, and vacation time. And the employees will be the last ones paid after all the other debts are paid out.
They didn't have any plans to stay in business anyway.
They didn't have any plans to stay in business anyway.
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