Hawaiian Settles with Mesa for $52.5M
#1
Gets Weekends Off
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Joined APC: Feb 2008
Position: 757/767 FO
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Hawaiian Settles with Mesa for $52.5M
NEW YORK -- Hawaiian Holdings Inc. said Wednesday it has settled a lawsuit against Mesa Air Group Inc. for a cash payment of $52.5 million. Hawaiian had accused Mesa of using proprietary information, obtained while Hawaiian was in bankruptcy proceedings and seeking investors, to help its subsidiary go! airlines to compete in the Hawaiian market. In addition to the settlement, Mesa will also withdraw its appeal of an $80 million judgment awarded against Mesa by the U.S. bankruptcy court. In a statement, Mesa Air said the settlement doesn't restrict go!'s ability to continue services in the Hawaiian inter-island market. Shares of Mesa jumped 18% to 65 cents a share while Hawaiian shares rose 10.8% to $8.75.
#3
Also, we'll have the result of the Delta settlement by June as well. This could be more $.
Trust me, I hate JO with every fiber of my body; I'm just playing the devils advocate.
#4
I see alot of wishful thinking about MESA's demise. The whole industry is hurting. With regard to the bond issue. IM sure MESA will convince the holders of such bonds to stand by a little longer while they recover. The Bond holders will agree rather than see MESA just go under, and they get nothing.
MESA is going to pull out or get bought out. Thos are the only viable alternatives.
#6
Even so, now we have $28.5 mill that we didn't have 3 days ago.
#7
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I see alot of wishful thinking about MESA's demise. The whole industry is hurting. With regard to the bond issue. IM sure MESA will convince the holders of such bonds to stand by a little longer while they recover. The Bond holders will agree rather than see MESA just go under, and they get nothing.
MESA is going to pull out or get bought out. Thos are the only viable alternatives.
MESA is going to pull out or get bought out. Thos are the only viable alternatives.
#8
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The wishful thinking is that bondholders will sit idly by while there paper becomes worthless. As a bondholder they are secured creditors...... forcing Mesa into BK would probably insure them something instead of nothing....
#9
MESA is not going anywhere. They will pull out of this and continue to wreak havoc. As I stated before. The best thing is to buy MESA and move on.
#10
The Legacies had pull with creditors. Look at the majors that won't be able to operate in bankruptcy (Aloha, ATA, Champion). I wouldn't put money on MAG doing any better.
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