Originally Posted by
detpilot
Thanks. So for us, that'd likely be airplanes we own, tools, parts, etc? Would any of those things actually sell for close to the value they're expecting? In other words, is that $20 billion likely to only actually fetch $10 billion, while crippling the operation?
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In the case of UAL, and I’m also assuming DAL, besides aircraft one of the most valuable assets is the frequent flyer program.
And, FWIW, an airline can be fully leveraged with no unencumbered assets without crippling the operation. Debt can be a useful survival tool as long as one can make the payments. One recent example is CAL prior to the merger.