Originally Posted by
sailingfun
I am not sure how getting from them what we have been asking for the last couple of years is bailing them out. If you make an offer on a car that the dealer refuses and they call you later and accept it do you consider it bailing them out?
A JV is far from an arms length vehicle transaction. If you want an analogy to dumb it down try something more like RIM and the blackberry. The industry has passed them by and the only value they retain is the saleable portions of the company. In this case 49% should suffice if the Delta turnaround team gets their way.
See VA and GOL restructuring.