Originally Posted by
stbloc
Don't know for sure. But Skywest stock is an indications of all their holdings. If Xjet was about to go under the stock would act very erratic. Put it this way, if XJet was about to go under Skywest would not be paying a dividend to shareholders. I personally don't think XJet can file without Skywest being included. Just because Xjet may be losing money doesnt mean they are in a position to file BK. Again I haven't seen the balance sheet for xjet.
If Xjet was about to go under you would see big swings in the share price leading up to it. None of that is happening. Remember when you file BK the courts and creditor control the company.
Sadly they can file while they have money in the bank. American had billions.
Should be easy enough to find out if XJT can file and not Skywest. Seems like they are 2 separate companies under the Skywest umbrella. I'm guessing XJT can file separately.
Their exposure to small jets is vast. Losing money. And probably violating their agreements with Legacy carriers due to lack of pilots.