US Airways Chairman: Liquidation Possible

[The Sushi Bandit]

http://biz.yahoo.com/rb/040819/airlines_usairways_bronner_2.html

NEW YORK (Reuters) - US Airways Group Inc.'s (NasdaqNM:UAIR - News) chairman said employees must agree to $800 million in new wage and benefit cuts within 30 days or the airline might be liquidated, the New York Times said on Thursday, citing an interview with Chairman David Bronner.

[Fovea]

1. Anybody got the numbers for what the top

executives are getting at US Air?

[smiley_glad_hands]

2. Too much I'm sure. eom

[DemoTex]

3. Bronner said the same thing two weeks ago and got hammered.

The Board was pissed. He immediately backed off and said liquidation was not really an option, but Chapter 11 (again) might be. Bronner knows nothing about running an airline (except, maybe, into the ground). He is a bean-counter who made the Retirement System of Alabama (teachers) a whole lot of money investing in golf courses. Bronner needs to stay in Alabama with his pie-whole shut and get someone who knows what they are doing to run the airline. The name Gordon Bethune comes to mind as the perfect man for the job.

On edit: Bronner told the newspaper that he and other investors potentially would be better off if US Airways liquidated, because they could buy its planes, gates and routes at cheap prices, and not have to take on labor contracts.

Frank Lorenzo, redux.

[Davis_X_Machina]

5. Frank Lorenzo, redux.

And I've been flying Eastern ever since, right?

[Parche]

8. no loss

Except for the jobs which we dont want to see go
USAIR is poorly run, they have very close hubs next to each other
that syphon off passengers from them
They have the highest seat mile costs in the industry, and always
have, they were slow to lower them, if at all.
They have had a mix of aircraft, and should only have a few types
for commonality.
And their fares are some of the highest, sometimes scaring away
passengers

[Eurobabe]

4. f*ck, i better use those tickets i have laying around

two tix, e-tix that had to be rescheduled!!

[spinbaby]

6. Well, there go my air miles

Just when I finally got enough to do something with.

[Hobarticus]

7. Deregulation....it's what's for dinner! n/t