Originally Posted by
acecrackshot
“About” is a general term.
No one outside Dallas knows what the daily cash burn really is, and no one knows how long it will continue. However, there is a number that triggers BK at American. That number exists at DL, NK, AS, etc.
The fact is that AA is beyond no doubt the closest to that number where cash flow takes the organization to cash on hand which is required for a DIP reorg.
And Delta/United are now at the debt levels AA was when everyone was saying AA was in deep trouble. Uncharted territory. Who knows.