Originally Posted by
StopBeingWhimps
Yea, I havent posted in years, but im realizing VNAVPATH is completely ignorant or just a troll. He can't even distinguish the difference between Chapt 7 vs Chapt 11... if he did some research at all he would have seen F9's offer earlier this year before NK emerged from bankruptcy was a 363 type sale. He thinks the Bond Holders have to send this out on the market to be bid on for 363 sale. What a fool... its clear this guy is a troll and trying to promote fear to get people in front of him to leave for that seniority bump. He has no clue about the bankruptcy code and how things work during Chapt 11 acquisition. Just ignore him LOL
7 and 11 often end in the same result for airlines. Midway, Aloha, Evergreen all ended ceasing operations with a 7 liquidation. Skybus, Miami Air, Ravn all ended on an 11 but failed to secure further funding.
Results for all 6 of these airlines and their pilot groups was the same.
Franke isn’t going to walk in and buy this entire thing. The property has to be sold for a price higher than the lein on the property. You think Frontier has this kind of cash?
(f)The trustee may sell property under subsection (b) or (c) of this section free and clear of any interest in such property of an entity other than the estate, only if—
(1)
applicable nonbankruptcy law permits sale of such property free and clear of such interest;
(2)
such entity consents;
(3)
such interest is a lien and the price at which such property is to be sold is greater than the aggregate value of all liens on such property;
(4)
such interest is in bona fide dispute; or
(5)
such entity could be compelled, in a legal or equitable proceeding, to accept a money satisfaction of such interest.
And newsflash, Frontier with our CBA would be hemoraging money like we are. The only reason they aren’t is they are still paying their 12 year Captains Legacy FO wages. Put our pay scales on their business and they are f*cked just like we are.