Raising additional capital might not be as easy as some think. They probably will need to negotiate with the 3 main capital providers depending on the terms. Raising additional capital would reduce the value of the original trenches. I am sure they can find the money but they will pay a huge interest premium since they have no assets for collateral. Maybe DN will pony up some of his own cash this round! Most startups as posted struggle a bit. I have never seen the kind of negative margins Breeze is posting. JetBlue was profitable within a few quarters of starting operations. Avelo is running single digit negative numbers but very manageable.
One thing for sure, when wallstreet gets back to work next year DN is going to be having some very serious discussions with the investors.