North American Airlines IS HIRING SOC Duty Manager
- Thread starter Christopher Jacob
- Start date
TomatoFlames
Well-Known Member
Nothin like working for what was a great airline just so your profits can be stolen by your sister airline and then lay off 50% of the workforce. No thanks.
thewaffles
Well-Known Member
That job is screaming your name TF 
TomatoFlames
Well-Known Member
Not very interested. The NAA folks are a wonderful bunch of people. The people running the holding company that owns them... not so much.
McCrosky
Well-Known Member
Funny how things change in a few years, it was felt the opposite was happening immediately after the NAA purchase.
If there can be an award for bad business ideas of the last decade, the ATA holdings/ World Holdings/Global Aero should get it. But I suppose if it makes those in charge at the time millions then it was all good right?
TomatoFlames
Well-Known Member
The way I see and understand it, and I could be wrong, is that World Airways was doomed for not taking enough steps to ensure their future by getting newer aircraft and adapting to the capacity requests of the military. So they were screwed.
ATA was booted from the military contract team because FedEx didn't want them and bounced them out. The ATA debt is what finally killed GLAH's ability to function, even though North American had been profitable every year.
The big • group in this is MatlinPatterson, the hedge fund the owns the whole group. They are 0 for 6 for airlines. As with many hedge funds, they want to buy it and scrap it. None of the 3 airlines (ATA, NAA, World) had a chance.
Competition, in this case, was not very relevant. It had nothing to do with why any of them failed, and the military business was dwindling anyway.