Originally Posted by
hawkerpilot05
The company never said loan. It was debt. We wrote down 1.3 billion as debt for parked airplanes. Then when we got rid of them, that debt was gone. How else do you think the debt was paid off so fast? Otherwise we must have really been raking in the money to pay off a 1.9 billion dollar loan off so quickly and then going forward would add up to be a lot of money.
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They were raking money- those airplanes they sold off at the bottom of the used aircraft market were not worth 1.3 billion. I doubt that all the airplanes disposed over the last 11 or so years brought back 1.3 billion combined. We ride those things hard and a lot of that time was a horrible used market at least partially bad because of the sheet number of airplanes we turn over. I do understand there was a shell game over the numbers to make RS look bad and DS look good, but there was also a lot of new aircraft sales and profits from operations while paying us a lot less before the 2015 contract. Even after the 2015 contract they continued to rake it in and paid the dividends.
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