jgheggie
Well-Known Member
That's makes sense.
Just passed 135 mins
- Thread starter Roosterski
- Start date
Roger Roger
Bottom of the list
You want to avoid Airnet, they just entered receivership according to word on the street.
msmspilot
Well-Known Member
Hadn't heard that. Sad.
Jammy Airplane
They're illusions!Tricks are what pros do 4 money
Must be my inexperience but what does receivership mean?
jgheggie
Well-Known Member
elmetal
Ain't nobody got time for that
IIRC they are being "held" by somebody else because of insolvency.
someone correct me if I'm wrong, but that's step 1 to reorganizational [totesaword] bankruptcy (chapter 11)
Roger Roger
Bottom of the list
I had it passed to me by an ex-Airnet buddy who posts here, I won't call him out but I bet he'll drop by.
Roger Roger
Bottom of the list
yeah I don't know exactly but from what I understand it is indeed a step towards chapter 11.
msmspilot
Well-Known Member
I checked in with a couple of guys I still know at Airnet. Sounds like it might work, but I've heard it before from Airnet.
scott_l
Well-Known Member
Airnet is not a good option right now. Receivership is a step to avoid bankruptcy. Basically the district court appoints someone to take control of the company and make all the decisions for it. This allows leeway for the company to be bought piecemeal or liquidated. Also, it guarantees any new creditors repayment.
Management seems to be very smoke and mirrors about the whole deal. They need business as usual to make us look profitable to potential buyers.