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Look up “debtor in possession” bankruptcy.Originally Posted by payingdues
lmao ya its in the creditors best interest to have AAG declare bankruptcy. What creditors? Airbus and Boring? What are they gonna do with 800 planes. Idk if you’ve looked around but planes aren’t going for much these days. The creditors want AAG to survive so that they have guaranteed income. If AAG goes bankrupt do you think they’ll be dancing and cheering at losing out on money?
The industry best guess is that when AA hits 6-8 billion in cash, they’ll be forced into court by the creditors in order to make the efficiencies needed for survival/orderly merger.