Quotations
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Philip Baggaley Quotes
«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.»
Author: Philip Baggaley
«The main benefit will be to corporations and small businesses. It's a significant consumer benefit but not necessarily to your average person in the street who is planning on taking a vacation.»
Author: Philip Baggaley
«As we've seen, these airlines never seem to shake out.»
Author: Philip Baggaley
«Those three factors, pension, labor and fuel prices, likely were the major considerations.»
Author: Philip Baggaley
«I wouldn't expect to see any major effects of these bankruptcy filings on passengers. I think both carriers will restructure successfully and continue flying.»
Author: Philip Baggaley
«I would expect, eventually, they will have to terminate the pension plan.»
Author: Philip Baggaley
«As you shrink an airline, you also reduce your revenue- generating ability. Obviously, they'll try to shrink the unprofitable markets.»
Author: Philip Baggaley
«A bankrupt airline is anxious not to lose customers, especially business travelers, and may be wary of cutting service below competitors' levels for fear of confirming passenger suspicions that the company is not long for this world.»
Author: Philip Baggaley
«I think it's entirely possible they'll use the grace period (on the bonds) if they haven't heard from the ATSB by Monday, ... However (the end of the grace period on) Dec. 16 may be more of a make or break deadline.»
Author: 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.»
Author: Philip Baggaley