Originally Posted by
Macjet
How do you figure? $1.2B in liquidity but $600M is reserved for credit card holdback (union's best estimate) so that's only $600M in actual liquidity. With a burn rate of $150M/quarter that puts the music stopping at 1 year from now. I don't see any what that we can make it to fall 2025 without a significant change.
You don’t burn down to zero. A bankruptcy (restructuring or liquidation) filing would come before that. Ted said in the last town hall the expect news on the debt due 2025 and 2026 this summer. My guess is if no renegotiation on that by September a bankruptcy filing will be right after