World Airline News Sept 28 reports the following.
Daily net cash burns. AA 12M, UA 11.7M
Sept 10 Cash position. AA 969M, UA 2553M
AA and UA face massive liabilities that dwarf their equity. UA employees are in for a double whammy if their is a bankruptcy filing, with massive layoffs and the ESOP equity wiped out.
UA have already taken 743 flights out of the daily schedule to try to stop the bleeding.
Does anybody know what life was like in 1929-1933 ?.