Originally Posted by sailingfun

We gave them 73 million. They gave us back 40 million. Out of pocket to Delta was 33 million in this transaction. Yes they still owe us 73 million and total we have given them 73 million however last week 40 million of that was gone. Its now DIP financing and we stand a excellent chance of recovering all or most of the amount even if they go Chapter 7.
In addition we now can dictate to pinnacle how they restructure. We can force them to dump the leases on 50 seaters and return them and reduce their fleet size. No matter how you slice it this was a smart move on managements part. Because different management teams made mistakes in the past is no reason to be stupid in the future.