Originally Posted by
AirWillie
Well yea they will, that's why they filed. I'm a little puzzled why the creditors didn't help them out before BK because now they're probably going to get nothing. On the other hand now the partners can dump Mesa. It's a mess, you've got to hand it JO he's still saying they'll operate for many years to come, yea after all the contracts run out with a couple of RJs in Hawaii.
Mesa's in Ch 11. They don't have any assets. They already dumped 300,000,000 shares on the market just to pay bills last time. They've burned their cash on parked aircraft they're still paying leases on and about to see that number of aircraft more than double. Frontier made it because they received DIP financing which after purchase was later dropped. Mesa has nothing to secure DIP financing with. This goose is cooked. Expect to hear from DAL, UAL, and US Airways soon. Without the ability to secure new financing, which I guess could be possible if JO meets someone that hasn't heard of him before, the majors won't see Mesa as a stable regional to place feed. They don't want the liability of having to cover all that flying all the sudden. I'd assume they are looking to spread out what they can to other carriers and cancel the rest.