Originally Posted by
747Flyer
Look for a link to the DOT (OST) website. Then look for either one of the carriers and you can read all the legal details.
It's all explained there in the legal filings. The way OHCP worked it was to fund C360 to buy SA, then fold it into a new company called Soutern Air Holdings. They get to depreciate the assets again that way - Score: Oak Hill 1, IRS 0!! Score: C360 crews F@cked!
Guess that isn't anything new in the corporation part of the world. Big corp tries to expand and winds up owning two companies that offer the same product. Close smaller of the two and move all the assets to the larger one. Then choose the management team from those they think they can control the easiest. No regard given to the people actually doing the work for either company. Unfortunately it seems to be more common now than before. Those of us working the line are left to pick up the pieces and make the best of it that we can.