39 Quotes by 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.

We did that based on how much they need to accomplish in less than two months with their other labor groups. This strike stretches out the likely time frame with the others unions at least a bit.

The recent surge in fuel prices and Delta's disclosure that it will have to post 750 million dollars of cash collateral to extend its credit card processing agreement indicate that the airline's already slim chances of avoiding bankruptcy are dwindling rapidly.

Those three factors, pension, labor and fuel prices, will likely be the major consideration as they come up to Oct. 17.

Those three factors, pension, labor and fuel prices, likely were the major considerations.

During the recent downturn, the legacy carriers have gradually used up their financial cushion of aircraft and other assets they can borrow against. If they are forced to face a new crisis, they may fail more quickly than they have in the past.

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.

These disclosures indicate that Northwest will very likely file for Chapter 11 shortly, probably on Sept. 14.

Probably not. Particularly with fuel prices where they are. But they have been narrowing their losses every year in bankruptcy.