Originally Posted by
ToiletDuck
You might not be reading it right. Basically RAH took over $91mil of Comairs debt in exchange for Delta releasing some of RAHs stock ergo RAH now has a $91mil stake in Comair.
Or you might not know what your talking about. The pilots of Comair got 82.5 million dollar claim. We didn't own 83 millions worth of Comair, we had a 82.5 million dollar stake in the reorganized Delta. You don't own Comair's Debt, RAH only only holds 91 million worth of Delta stock. You have to sell your stock to get the cash.
Comair doesn't exist in a financial sense, it is just a name on part of the the Delta balance sheet. There is no "Comair debt", it is Delta debt.