Originally Posted by
B00sted
If you look at the 13 week budget Pinnacle posted, as of Friday 4/27 we'll still have 35.5 mil in cash without any DIP. If Delta would have paid us the 18 mil from last year and about 5 mil for the 4 months of this year, that's an additional 23 mil for a total of 58 million in cash.
I think CNBC should add this to their "American Greed" show.
If your figures are correct, then you also have to begin deducting outstanding obligations from that number.
Recall that Delta was the only lender of last resort. There was no choice. There is also the issue of Pinnacle's ratification of the agreement and the fact that the parties objecting to this arrangement having no other real plan for revenue outside of Delta. Common holders of equity get wiped out ... ask investors in Fannie Mae, Freddie Mac, Lehman, or even Delta Air Lines prior to 2005.
If Delta's DIP motion is set aside as a result of this motion, I'd expect the result for the Company to be a dissolution.