Lear70
JAFFO
- Joined
- Oct 17, 2003
- Posts
- 7,487
AWA/UAir is a very good analogy.Actually Midwest being the surviving carrier is not all that far fetched. After all VJ bought Airtran, and Airtran was the surviving carrier...
...same with America West/US Air. Our mgt has a lot of experience in doing just that. This whole TA fight could be "much ado about nothing."
America West didn't have the cash to do the transaction, they went out and found investors and, although the name changed to USAirways, the management team at AWA was retained as were the headquarters, so the AWA contract was the one that was implemented, even though it was more expensive to do so and resulted in some pay raises for the narrow-body pilots at UAir.
This is very similar, where we ARE the acquiring carrier, we will be retaining our management team and headquarters, and just changing the name would likely, when taken to court, not be enough to constitute calling Midwest "the surviving carrier".
I can see it now, "Yes, your honor, we at AirTran purchased Midwest as shown on the SEC filings, but really we are *merging* and we absolutely intended for Midwest to be the "surviving carrier". What? No, sir, we haven't changed our headquarters. No, sir, we haven't changed our management group. No, sir, we haven't changed our seating configuration to match Midwest or dumped our signature "XM Satellite Radio", but we painted the airplanes. Really, we ARE Midwest..."
I've seen some management groups do some creative stuff, but I sincerely doubt they'd be able to pull that one off.
That's part of what I'm talking about "straightening out". Just gonna take a while...As for us getting our shiznit straightened out, don't count on that, the BoD doesn't even support, let alone represent us.