Blue horseshoe loves Bluestar Airliines
02-13-2024, 04:46 AM
#12
SDQ Base Chief
Joined APC: Mar 2006
Position: 320 CA
Posts: 5,588
Originally Posted by rickair7777
Why you guys and not NK?
02-13-2024, 04:54 AM
#13
Line Holder
Joined APC: Oct 2016
Posts: 69
Originally Posted by Flyby1206
I was wondering that as well. Maybe because JB owns and has more unleveraged assets compared to NK that is mainly leases and future order book positions (I don’t think the future order books can directly be sold from NK to someone else without Airbus having a say)
02-13-2024, 05:02 AM
#14
SDQ Base Chief
Joined APC: Mar 2006
Position: 320 CA
Posts: 5,588
Originally Posted by gottagetout
He will pressure management to sell unencumbered assets. Aside from the mess he caused at TWA, I think and I could be wrong, but I think he has a history of doing just that.
Icahn can even leverage assets like slots to raise cash to pay dividends to JBLU shareholders (his own pocket). Then when he’s done leveraging everything he sells his stake and JBLU flounders under the debt load, eventually going into BK to shed those obligations and likely losing some of those assets in the process.
02-13-2024, 05:03 AM
#15
Line Holder
Joined APC: Oct 2016
Posts: 69
Originally Posted by Flyby1206
Yes exactly. NK is protected in a way since most of their assets are leased and not easily sold or leveraged to raise cash.
Icahn can even leverage assets like slots to raise cash to pay dividends to JBLU shareholders (his own pocket)
Icahn can even leverage assets like slots to raise cash to pay dividends to JBLU shareholders (his own pocket)
02-13-2024, 05:30 AM
#16
Gets Weekends Off
Joined APC: Jan 2008
Position: A320 CA
Posts: 228
Forgive my ignorance, but is he only a threat if he gets offered a board seat? I don't know much about large stake investing, but what power does he have as a sole shareholder? Is this something you can do on your own or do you need help from the ELT?
I assume he doesnt have power until he has a seat at the table, which I think must be voted on?
I assume he doesnt have power until he has a seat at the table, which I think must be voted on?
02-13-2024, 05:42 AM
#19
Gets Weekends Off
Joined APC: Jul 2023
Posts: 239
Originally Posted by Chimpy
maybe more incentive for JBs BOD to want the NK Merger? I’m sure his wants and needs arent in alignment with Your New CEOs?
Yup, I bet they extend the July due date too. They really need this merger now.
02-13-2024, 05:43 AM
#20
Gets Weekends Off
Joined APC: Sep 2015
Posts: 276
Originally Posted by Chimpy
maybe more incentive for JBs BOD to want the NK Merger? I’m sure his wants and needs arent in alignment with Your New CEOs?
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