Mesa bankruptcy?
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Originally Posted by ericcorolla
(Post 3516441)
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Originally Posted by Twr199
(Post 3516676)
And there goes the new pay rates with no snap back. Ch11 restructuring.
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Originally Posted by golfandflows
(Post 3516770)
This forum is full of CEO’s, bankruptcy lawyers, and CPA gurus. Oh, and I forgot RLA contract lawyers for ALPA. Good to know.
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bankruptcy
Originally Posted by ericcorolla
(Post 3516441)
I can't figure out the benefit of bankruptcy for Mesa... |
Originally Posted by 20sx
(Post 3516866)
Didn't Mesa just receive 50 million from United for the 700's? Not sure how much Mesa owes the bank on the 900's, but I thought they were mostly paid for.
I can't figure out the benefit of bankruptcy for Mesa... |
Originally Posted by Twr199
(Post 3516880)
The benefit is to get out of the AA flying and rip up the the contract to their benefit.
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Originally Posted by Twr199
(Post 3516676)
And there goes the new pay rates with no snap back. Ch11 restructuring.
No credible industry/financial analyst would call bankruptcy Chapter 22 as a joke because it was the second time in Chapter 11 for a carrier. He obviously forgot (more likely never knew) US Air/ways filed twice. Bankruptcy isn’t a joke and should never be alluded to as such. Just another internet troll looking for 15 minutes of fame. Consider the source before you make foolish statements about Mesa’s financial health. |
Originally Posted by 20sx
(Post 3516866)
Didn't Mesa just receive 50 million from United for the 700's? Not sure how much Mesa owes the bank on the 900's, but I thought they were mostly paid for.
I can't figure out the benefit of bankruptcy for Mesa... Item 1.01. Entry into a Material Definitive Agreement. On September 27, 2022, Mesa Air Group, Inc. (the “Company”), its wholly owned subsidiary, Mesa Airlines (“Mesa”), and United Airlines, Inc. (“United”) entered into an Aircraft Purchase Agreement (the “Purchase Agreement”), which provides for the sale of 18 CRJ-700 aircraft owned by Mesa to United. The Company expects the net proceeds from the sale of such aircraft will be approximately $50,000,000. The Purchase Agreement provides that each aircraft will be delivered “as is, where is” subject to and with the benefit of a related lease agreement. Under the terms of the Purchase Agreement, the Company is providing customary representations and warranties for a transaction of this type including authorization, no conflicts, validity of agreement, regulatory matters, good and marketable title, airworthiness, no liens, aircraft records, manufacturer warranties, and no brokers’ fees. United has agreed to deposit a specified sum per aircraft with FAA counsel, to be applied toward the purchase of each aircraft. The closing of the sale of each aircraft is subject to certain customary closing conditions, including the execution of mutually acceptable sale and lease assignment and assumption documentation, and United’s satisfactory inspection of the aircraft. The Purchase Agreement provides for a downward adjustment in the purchase price based on a formula set forth therein if the closing date in respect of an aircraft occurs after January 31, 2023. The foregoing descriptions of the Purchase Agreement and the transactions contemplated thereby do not purport to be complete and are qualified in their entirety by reference to the full text of the Purchase Agreement, which will be filed as an exhibit to the Company’s Form 10-K for the fiscal year ended September 30, 2022. |
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