Skywest Buys Comair???????????
03-28-2007, 10:02 PM
#51
Line Holder
Joined APC: Apr 2006
Posts: 53
The numbers from that Yahoo balance sheet are good as of 12/31/06. A lot has changed since the first of the year. The "unsecured claim" that PNCL sold brought in $280M in cash. Check out this article dated Jan 9, '07.
http://www.marketwatch.com/News/Stor...yhoo&dist=yhoo
Disclaimer: I'm not sure what an unsecured claim is. Also, I'm not sure how much of that $280M is left after the $20M Colgan purchase and other financial excursions managment has taken.
http://www.marketwatch.com/News/Stor...yhoo&dist=yhoo
Disclaimer: I'm not sure what an unsecured claim is. Also, I'm not sure how much of that $280M is left after the $20M Colgan purchase and other financial excursions managment has taken.
03-29-2007, 03:19 AM
#52
Gets Weekends Off
Joined APC: Mar 2006
Position: 330 B
Posts: 1,623
03-29-2007, 10:20 AM
#53
Gets Weekends Off
Joined APC: Apr 2006
Posts: 657
NICE RUMOR! SKYW will never buy Comair.
1) crappy planes (I do believe that SKYW sent them all their CRJ 100's in the past years after they stole Comair's 200's)
2) Too many CRJ's on the market or sitting in the desert at ridiculously LOW prices. Why pay for comair, just buy more planes at a steep discount WITHOUT problems attached. Plus, Crj 50's not profitable in the longer term
3) Labor / Union problems at Comair. Why buy that?
4) ComAir has nothing to offer.
5) Most recent Airline crash . . .that is a black cloud hanging over any purchaser.
6) SKYW and ComAir has all new management. This would be a reckless and painful endeavor for this unskilled new management. It would lead to a huge bankrupt airline.
7) Delta might be able to close all of Comair and make more in tax benefits than in the outright selling of comair
03-29-2007, 10:21 AM
#54
Guest
Posts: n/a
Nice catch
The numbers from that Yahoo balance sheet are good as of 12/31/06. A lot has changed since the first of the year. The "unsecured claim" that PNCL sold brought in $280M in cash. Check out this article dated Jan 9, '07.
http://www.marketwatch.com/News/Stor...yhoo&dist=yhoo
Disclaimer: I'm not sure what an unsecured claim is. Also, I'm not sure how much of that $280M is left after the $20M Colgan purchase and other financial excursions managment has taken.
http://www.marketwatch.com/News/Stor...yhoo&dist=yhoo
Disclaimer: I'm not sure what an unsecured claim is. Also, I'm not sure how much of that $280M is left after the $20M Colgan purchase and other financial excursions managment has taken.
Nice catch there...I had not seen that. Well I stand corrected, looks like Pinnacle COULD be a player.
03-30-2007, 05:30 AM
#55
Banned
Joined APC: Nov 2005
Position: Old Fart
Posts: 74
Actually an IPO would probably net Delta more in the long run. Keeping a majority of stock for themselves with which to whipsaw mainline and /or regional providers in the future.
That would be the smartest move and one that makes the most sense. then again thats the very reason it won't happen!
That would be the smartest move and one that makes the most sense. then again thats the very reason it won't happen!
03-30-2007, 07:26 AM
#56
Gets Weekends Off
Joined APC: Mar 2006
Position: Cessna 152 Captain
Posts: 695
NICE RUMOR! SKYW will never buy Comair.
1) crappy planes (I do believe that SKYW sent them all their CRJ 100's in the past years after they stole Comair's 200's)
2) Too many CRJ's on the market or sitting in the desert at ridiculously LOW prices. Why pay for comair, just buy more planes at a steep discount WITHOUT problems attached. Plus, Crj 50's not profitable in the longer term
3) Labor / Union problems at Comair. Why buy that?
4) ComAir has nothing to offer.
5) Most recent Airline crash . . .that is a black cloud hanging over any purchaser.
6) SKYW and ComAir has all new management. This would be a reckless and painful endeavor for this unskilled new management. It would lead to a huge bankrupt airline.
7) Delta might be able to close all of Comair and make more in tax benefits than in the outright selling of comair
1) crappy planes (I do believe that SKYW sent them all their CRJ 100's in the past years after they stole Comair's 200's)
2) Too many CRJ's on the market or sitting in the desert at ridiculously LOW prices. Why pay for comair, just buy more planes at a steep discount WITHOUT problems attached. Plus, Crj 50's not profitable in the longer term
3) Labor / Union problems at Comair. Why buy that?
4) ComAir has nothing to offer.
5) Most recent Airline crash . . .that is a black cloud hanging over any purchaser.
6) SKYW and ComAir has all new management. This would be a reckless and painful endeavor for this unskilled new management. It would lead to a huge bankrupt airline.
7) Delta might be able to close all of Comair and make more in tax benefits than in the outright selling of comair
04-01-2007, 12:41 PM
#59
Gets Weekends Off
Joined APC: Jun 2006
Position: Part 121, 135 & Military background
Posts: 379
My guess is Ellen is a young SW pilot, but she can answer that....
I can answer her question, that is-"why buy Comair?"
1. It's not all crappy planes. We (ASA) got those 100's from somebody, then the went to SW and according to her went to Comair. But that hardly represents their entire fleet. I heard (from my D.O. @ ASA) that part of the pay cut their pilots agreed to got them 1/2 of the 900's that Delta bought.
2. It's not just about planes. Buying an airline means gate space, maintenance, operations areas, and as some have pointed out, we've got soooo many snot nose F.O.'s out there that can't even qualifiy for ICAO mins to upgrade. Buying Comair solves many of these problems.
3. Union Problems. She's right on that. Comair pilots make a Hitler SS Brigade look like pacifist.
4. Wrong. See item 2.
5. Most recent crash... the public has a short memory, especially when you only burn them in 50 at a time. Proof? Comair is hiring and still has their DCI contract.
6. Unskilled Management? Stop by ASA. We have a training program that produces bad management.
7. I'm not an accountant, but I doubt Ellen is either. there seems to be plenty of write off when you are losing 90 million a quarter.
Will Skywest buy Comair? I have no idea. But I've been at ASA for 10 years and two buy outs, and I can tell you that we didn't have a clue about Delta or Skywest buying us until it happened.
If I were a young CFI or $80,000 program kid I would avoid ASA like the plague. Mesa too. Comair is a gamble. In fact I'd become a dentist! This airline thing is just not worth it.
IMHO,
Stickwiggler
ASA Captain
DFW, SLC, ATL, LAX, and back to ATL urgh!
I can answer her question, that is-"why buy Comair?"
1. It's not all crappy planes. We (ASA) got those 100's from somebody, then the went to SW and according to her went to Comair. But that hardly represents their entire fleet. I heard (from my D.O. @ ASA) that part of the pay cut their pilots agreed to got them 1/2 of the 900's that Delta bought.
2. It's not just about planes. Buying an airline means gate space, maintenance, operations areas, and as some have pointed out, we've got soooo many snot nose F.O.'s out there that can't even qualifiy for ICAO mins to upgrade. Buying Comair solves many of these problems.
3. Union Problems. She's right on that. Comair pilots make a Hitler SS Brigade look like pacifist.
4. Wrong. See item 2.
5. Most recent crash... the public has a short memory, especially when you only burn them in 50 at a time. Proof? Comair is hiring and still has their DCI contract.
6. Unskilled Management? Stop by ASA. We have a training program that produces bad management.
7. I'm not an accountant, but I doubt Ellen is either. there seems to be plenty of write off when you are losing 90 million a quarter.
Will Skywest buy Comair? I have no idea. But I've been at ASA for 10 years and two buy outs, and I can tell you that we didn't have a clue about Delta or Skywest buying us until it happened.
If I were a young CFI or $80,000 program kid I would avoid ASA like the plague. Mesa too. Comair is a gamble. In fact I'd become a dentist! This airline thing is just not worth it.
IMHO,
Stickwiggler
ASA Captain
DFW, SLC, ATL, LAX, and back to ATL urgh!
04-01-2007, 12:53 PM
#60
Gets Weekends Off
Joined APC: Apr 2006
Posts: 657
My guess is Ellen is a young SW pilot, but she can answer that....
1. It's not all crappy planes. We (ASA) got those 100's from somebody, then the went to SW and according to her went to Comair. But that hardly represents their entire fleet. I heard (from my D.O. @ ASA) that part of the pay cut their pilots agreed to got them 1/2 of the 900's that Delta bought.
6. Unskilled Management? Stop by ASA. We have a training program that produces bad management.
7. I'm not an accountant, but I doubt Ellen is either. there seems to be plenty of write off when you are losing 90 million a quarter.
If I were a young CFI or $80,000 program kid I would avoid ASA like the plague. Mesa too. Comair is a gamble. In fact I'd become a dentist! This airline thing is just not worth it.
IMHO,
Stickwiggler
ASA Captain
DFW, SLC, ATL, LAX, and back to ATL urgh!
1. It's not all crappy planes. We (ASA) got those 100's from somebody, then the went to SW and according to her went to Comair. But that hardly represents their entire fleet. I heard (from my D.O. @ ASA) that part of the pay cut their pilots agreed to got them 1/2 of the 900's that Delta bought.
6. Unskilled Management? Stop by ASA. We have a training program that produces bad management.
7. I'm not an accountant, but I doubt Ellen is either. there seems to be plenty of write off when you are losing 90 million a quarter.
If I were a young CFI or $80,000 program kid I would avoid ASA like the plague. Mesa too. Comair is a gamble. In fact I'd become a dentist! This airline thing is just not worth it.
IMHO,
Stickwiggler
ASA Captain
DFW, SLC, ATL, LAX, and back to ATL urgh!
SKYW and Accountant: NO (You are correct.)
Yes, I have heard about ASA management. (One goes there to learn WHAT NOT TO DO). Only gets worse. . . If ASA mgmt. cannot keep 1,500 baggage handlers at ATL, and allows Delta to step in . . . how in the heck do they expect to keep pilots. (Planned screw-ups to force you guys to go to SKYW? . . Not sure)
Why would you agree to a pay cut to fly larger planes? IDIOTS! Management knows the lure of "Larger metal to the pilot" AND THEY EXPLOIT IT! Shame on them and shame on the pilots for caving in.
If I'm Delta. Try to sell for $225 million and take the money and run. Otherwise CLOSE the damn thing.
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