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In other words, you are correct that the business model was flawed, but most of that restructuring was done outside of bankruptcy.
So Mesabah, were you mainline management at NWA?Originally Posted by Mesabah
Snarge, I'm specifically giving the reason for bankruptcy, if they could have shed those obligations outside of it, they wouldn't have gone the BK route. Furthermore, there was a massive amount of restructuring done at NWA pre-bankruptcy. The fact that NWA was able to freeze some of the pensions was a credit for additional items.In other words, you are correct that the business model was flawed, but most of that restructuring was done outside of bankruptcy.