That is high, particularly for an investment-grade company.
More Quotes from Philip Baggaley:
A situation where you have United, Delta and Northwest all in bankruptcy does make it easier to think about further consolidation.Philip Baggaley
Northwest's hopes of negotiating concessionary labor contracts with its unions were overtaken by the surge in fuel prices, which deepened the airline's losses and cash outflow.
Philip Baggaley
Northwest ran out of time.
Philip Baggaley
Usually, one would see a ratio of less than 50 percent for industrial and transportation companies however, that's the peak and from there, it should decline as they use free cash flow to pay down debt.
Philip Baggaley
They are another example of a company that started out in a relatively stronger financial position than their peers, and they felt they were in better position to survive a shakeout, ... They didn't pursue cost-cutting as aggressively as they would have if they were heading toward bankruptcy early in the (industry's) downturn.
Philip Baggaley
In the longer term, if the storm and resulting higher energy prices slow economic growth and consumer spending, it will have an indirect depressing effect on air travel.
Philip Baggaley
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