Originally Posted by
BlueMoon
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.
Actually, we don't even own $91 million worth of Delta debt. We sold our claim to an "undisclosed" buyer for something in the $40 million range. If I were to hazard a guess, I'd say Wexford. Either way, we have nothing to do with Comair and hopefully never will. TD's got me all confused on his logic about this.