Originally Posted by
Chimpy
So why not just file CH11 again ( A real one) , get rid of the Debt and merge with F9... Seems like the only real way forward, no?
You can't just wipe out bondholders like you can stockholders. Now I think the current equity holders are driving this towards another bankruptcy. I don't see the upside. The best case is a pre-packaged Chapter 11. Another airline provides DIP financing, and bondholders receive 20-30 cents on the dollar, but these are financed through new bonds.