Originally Posted by
Tilem
How will Republic pay the notes on those when the CARES act only pays for about 75% of wages and nothing towards operating expenses?
Did Republic inflate their asking amount? Would think their ask is significantly above $100M?
Can Republic file bankruptcy again since they already filed a few years ago?
We have a good cash reserve lying around, and while it's drastically reduced, our income from our CPAs is not zero. Beyond that, I don't have specifics. We are definitely trying to streamline/cut costs right now. We let go 5% of our workforce today, all non-crew. Sad times for a lot of good people.
We asked for $271 million and received $206 million. That was equal to the 74% pro-rata everyone else received. I don't believe there was a way to "inflate" an asking amount as it was based on readily-verifiable payroll data from last year.
No idea about the bankruptcy. I don't think that is an imminent concern.