I would expect, eventually, they will have to terminate the pension plan.
More Quotes from Philip Baggaley:
Northwest has been losing a fair amount of money for a while now. I expect they feel they need to move forward quickly on these cost savings given where fuel prices are and going into the weak winter season.Philip Baggaley
The pilots are the last major labor group to reach a preliminary agreement (except for striking mechanics who have been replaced) and the largest source of labor savings being sought by the airline.
Philip Baggaley
Northwest ran out of time.
Philip Baggaley
Airline mergers are very difficult. They require a lot of cooperation from labor, management attention and financing. All those things are in short supply when you're just struggling to survive.
Philip Baggaley
An airline doesn't wait till it's down to its last dollar to file, ... It'll be difficult to keep dragging it out. Without new financing, from a purely cash perspective, they are already in trouble to be assured they can reorganize in bankruptcy.
Philip Baggaley
That is high, particularly for an investment-grade company.
Philip Baggaley
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