Originally Posted by
eaglefly
First a judge would have to green light that request and BB would have to justify it as necessary for survival. But again, think about what would happen to RAH if he did ?
A mass pilot exodus and ZERO replacements resulting in complete chaos in an already tenuous existence and that would have his meal makers (the legacies he feeds) abandoning RAH in rapid form. In short order, he wouldn't have a pot to pi$$ in or a window to throw it out of. His airline would collapse.
Great strategy if he wants to liquidate and wipeout remaining shareholder value. Not so good, if he wants to reorganize.
Never underestimate what will be done, AA got an 1113 why not RAH, SAH, 1113.
UAL spun off there FF program understated the value and that was not found out until after the BK was finished.
NWA spun off NW cargo to go into BK. They then were paid out the value of the Continental Golden shares which they loaned DL to establish the merger between DAL and NWA.
BK was established to protect the business and with a flock of young imaginative MBA + JD's to create the correct business model, watch out.