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.
Wake the duck up!!! Bankruptcy is the way of the airlines. It gives them the green light to immediately shed or restructure airplane leases, and restructure all labor contracts. H$ll, they can restructure all their contracts to become more cost competitive. Look what American just did, and remember the pile of cash they had in the bank when they filed. Also, consider the benefits of having multiple companies under an Inc umbrella. Mesaba, part of MAIR Holdings, also had millions in the bank when they filed in 2005, but Big Sky Airlines wasn't included. I'm not saying Skywest will go this route, but current bankruptcy laws in conjunction with the Railway Labor Act heavily favor the airlines.