Originally Posted by
BeatNavy
They own their planes like I own my house. The bank owns them. RAH secured financing for them. Do you really think if they outright owned that many $45 mil (or however much ejets cost) jets their market cap would only be $45 million?
Not only that, but the Brazilian Export Bank who owns that debt will be a large voice in bankruptcy court.
Same thing happened in Pinnacle Corp BK...EDC (Export Development Canada) owned the debt on the Q400's and DL CRJ900's, they along with DL and UA were the largest creditors in court.
When you're in BK court- YOU OWN NOTHING.
The creditors committee does.