Originally Posted by
DMEarc
The airplanes are owned by the Export Bank of Brazil until RAH pays them off.
RAH doesn't own all the 170/175 which are operated by them and their subsidiaries. On the 3Q 10Q they show liabilities (debt) of $2.8 billion against cash of $191 million.
That isn't a fantastic cash position.
You can't pick two unrelated numbers off a balance sheet and make a fair argument.
To me, it looks like their expenses are becoming unsustainable. Unless they renegotiate with the mainlines, any new pilot contract could easily send them into bankruptcy. If a bunch of pilots jump ship, it would be even worse for them.