Originally Posted by
bluebravo
No. They declared because of their credit card processor wanted to hold 100% of the revenue until a 6 month reserve was in the bank. With ATA and Skybus cutting services in a matter of 24 hours, the processor was eating the purchases due to Chap11/7 protection the companies had.
Ah. Thanks...interesting.
(This shows the genius of the financial system: "Let's hold out on paying them because others don't have to pay us!" Frontier: "TYVM, buddy", and reaches for the Chapter 11 handle.)