Mesa

[CaptainChris87]

My source tells me if Mesa files for CH11 BK protection, US Airways cannot automatically terminate the contract. Mesa has the ability to terminate the contract if they go CH11.

Its all up to BK court. They need to request or file a motion to do so. If they can prove that they are able to satisfy creditors, or heck if their creditors demand it, then the court will approve. It's CH.7 you guys gotta watch out for. As I said that is complete liquidation of all their assets in order to satisfy ALL SECURED, NON-SECURED creditors, and to the extent shareholders. And to also satisfy any litgations or legacy claims.

 

[AMH]

The frigid waters of the north Atlantic.

The warm waters of the Pacific, outside the operations windows of "Aloha" and "Hawaiian" , somehow seems more befitting.

 

[houfo]

Didn't the bankruptcy laws change recently to where you only have a short time to exit Ch.11. In the past it could last for several years..?

 

[surreal1221]

JO, once he throws the towel in with Mesa, is going to become a Master Franchise owner for CatridgeWorld.

You heard it here first!

 

[OldTownPilot]

With all this credit crisis its going to be VERY hard to find anyone to supply DIP financing. There most likely wont be a period of time in ch 11 for anyone in the near future. all that will happen is the airplanes get seized one night by the lessors and the doors are locked to the crewrooms when you get to the airport the next day to work.

 

[surreal1221]

Or. . .

The Socialized losses, and Privatized Profits will move into the airline realm!1 Again!1

 

[OldTownPilot]

A single airline, i.e. Mesa (or any other airline) is not, and never will be a vital part of the US economy, hence no bailouts.


Now if all 6 errrr.... 5+ legacies were on the brink of failure, then we might see some intervention, however that is probably unlikely. The intervention, not the failure


right now this whole economy hasn't hit the average consumer too hard, but on the corporate side of things, it is wrecking havoc on the ability of companies to get money for capital, and to move money around.

 

[H46Bubba]

Way to contradict yourself, buddy!

I just hate mis-information.

Fact: NONE of us know what those contracts say, and if there are any clauses that would allow such action. So don't don't state opinion like fact, without a disclaimer. I, too, would love to know what the contracts say, but I've got to see some proof of the actual wording before I believe it.

Okay I retract my previous post because now I have in writing coutesey of Mesa's 2007 Annual report: http://library.corporate-ir.net/library/78/789/78947/items/276683/MESAAIRGROUPINC10K.pdf

US Airways
United

- If either US Aiways or we become insolvent, file for bankruptcy or fail to pay our debts as they become due, the non-defaulting party may terminate the agreement.

- If either United or we become insolvent, file for bankruptcy or fail to pay our debts as they become due, the non-defaulting party may terminate the agreement.

I knew it was in writting somewhere other than the contracts. All those stupid daily conference calls and meetings with JO have come in hand once or twice.

 

[BobDDuck]

Well played Howard.

 

[mxflyer]

It's amazing to me how fast thread with a legitiment question turned into a Mesa bash. Actually it's really pathetic.

 

[cfii2007]

"M" is for Mesa

 

[surreal1221]

Okay I retract my previous post because now I have in writing coutesey of Mesa's 2007 Annual report: http://library.corporate-ir.net/library/78/789/78947/items/276683/MESAAIRGROUPINC10K.pdf

US Airways
United

I knew it was in writting somewhere other than the contracts. All those stupid daily conference calls and meetings with JO have come in hand once or twice.

Great find!

 

[CamYZ125]

Great find!

I'll second that; nice work Howard. Thanks for providing a source!

 

[H46Bubba]

Also a good read is the exhibits which include the actual contracts and ammendments!

 

[H46Bubba]

I'll second that; nice work Howard. Thanks for providing a source!

Thanks Cam! There is a method to my madness. I don't want any of my Mesa Peeps to get blindsided if things do go south. Like I said I don't hate Mesa itself, just the leadership. I still have friends that work and fly there as well as you JC guys.