I know there's a lot of investor interest in United. They've done a lot of hard work in bankruptcy. It remains to be seen whether their costs are low enough.
More Quotes from Jim Corridore:
If we get back into the 70s and stay there it obviously throws our model.Jim Corridore
They have to realize it'd be biting off their own nose to strike, ... I'm sure the union is using the financial situation for leverage. They know they have the company over the barrel.
Jim Corridore
That would certainly go a long way to helping the company, ... Labor costs are the biggest bucket they can attack. The government might be more willing to help with this level of cuts. Even with DIP financing, they're going to face a liquidity problem. They could use those loan guarantees.
Jim Corridore
I think it's still a possibility they may have to file for bankruptcy. These agreements certainly help. It's good news for the company. But American has a lot of problems, and this only partly addresses the problems, especially given the sharp downturn in travel during the war.
Jim Corridore
I would be extremely surprised if what the unions came up with was enough to keep United out of bankruptcy. Typically these unions have a lot of animosity with each other. I don't hold out a lot of hope.
Jim Corridore
The stock is up slightly today as the uncertainty of strike is lifted from the company. United really had no choice but to accept the PEB findings. They couldn't survive a month with a strike. But guaranteeing 37 percent wage hikes is only going to weaken a company that is already weak.
Jim Corridore
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