Originally Posted by
Braniff DC8
Biscayne probably will liquidate within the next 30-60-90 days. There's really nothing left. Keep pouring money into a sinking ship is just silly. Truthfully, the accident did Biscayne in. This was just the final shove off the cliff. Someone might take the military contracts but that's about it. Stranger things have happened in the world of Miami but I think it's over. The parent company is terrible and should not have gotten into the irline bi-iness. YES, THE SCAB THAT RUNS IT IS THE WORST PART!
Hey Guys... New to the forum here but not new to furloughs and Chapter 11... Let me say that as one who has been in the industry for over 20 years and furloughed many times,
the FAT LADY at Miami Air has not yet sung! While I cannot deny some of the above quote, there's a reason the doors have not yet closed and our financier has been bailing the company out for the last month or so... And it's not because they think MAI is suddenly going to become profitable. There have been sharks circling the sinking ship, one of them is going to bite very soon. The current situation is unsustainable even in the short run for a company that has been sucked dry with zero cash reserves yet pays a hefty price to it's holding company. Keep in mind that MAI liquidated is worth nothing since there are no assets to speak of except and operating certificate that is also worthless if it ceases to operate. This business, however poorly run by whomever has been making money for nearly 30 years and never declared bankruptcy. It's value lies in it's product. Stay tuned!