Originally Posted by
berge7f9
No we are not on the edge of bankruptcy, but with another rate reset by Delta coming soon, they might threaten to shut us down when we really start bleeding money. Inc cannot declare bankruptcy without dragging SkyWest Airlines down with us. They cannot transfer assets without bringing on merger proceedings. So what would you do if you were JA or BR?
Is there anything stopping them from shutting us down? Is there any historical precedent where a holding company has 2 subsidiaries - one profitable and one not making money - and they shut down the unprofitable subsidiary?
MAIR bankrupted Mesaba Airlines while preserving the holding company, and its other subsidiary. Research it.
And the fragmentation clause in our contract only kicks in if the airplanes are transferred directly to SkyWest Airlines. If they're returned to the lessor, then leased back to SkyWest, we have no claim. In fact, they already did this with the -200s they're flying in PHX.