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.
More Quotes from 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
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
Oil prices were already very bad, this new rise is going to make it very rough. The airline industry will see pretty high losses in the third quarter.
Jim Corridore
If you lock in hedges here at 60 a barrel and prices go much lower, you are obviously doubling your pain.
Jim Corridore
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.
Jim Corridore
Carriers that stayed out of bankruptcy have done a good job of cutting their controllable costs -- oil is obviously not one of them -- and demand for air travel has been very strong. The holiday season has been good for them.
Jim Corridore
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