Originally Posted by
havoste
That's not true, the confirmation plan laid out exactly what they would do with the DIP lenders. (They would be mostly equitized) Though it also assumed the elevated fuel prices would settle back towards $2.35 in mid-May which was obviously in hindsight unrealistic. But if the Iran War did not happen Citibank would likely have not filed the objection (their main issue was the fuel price) and the confirmation hearing would've proceeded.
Don’t forget about the massive amounts of premium that were being dished out and continue to be paid out, oh and all the cancellations. This is after the projections that were already questionable. Sorry they would have never made it.