Originally Posted by
Huell
I think there is a good chance of CH11 ... with others to possibly follow not far behind.
If things drag out or if other unforeseen issues pop up ... ???
You have to convince a judge to file Chapter 11. with the amount of debt over 42 BILLION, and daily cash burn over 10 million, they have zero shot filing CH11, zero. If we can get a quick recovery it would be smart to file chapter 11 in American Airlines case, but I don’t see a quick recovery. With the democrats running the show for the next 2-4 years, spending will increase, inflation will increase, we’ll take our time with opening the country.
Also experts are projecting the price of oil to increase from $50 to $100 a barrel. Saudi Arabia announced cutback in oil production. The last time that happened was during the Bush administration because SA felt threatened. Now they’re feeling threatened by the Biden administration so they’re playing games again.