Mesa Air Group Chapter 11 Info

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07-31-2010 | 09:47 AM

#1091

pilotrob23

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From: Phoenix

what is psa 900 rates in the loa? I have been hearing this rumor all over.

07-31-2010 | 09:58 AM

#1092

seafeye

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From: Hot tub for now

Maybe US Airways will buy Mesa and put an end to the maddness?
With shares at .03 i wonder what they can be bought for?

07-31-2010 | 10:51 AM

#1093

sailingfun

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Quote:

Originally Posted by seafeye

Maybe US Airways will buy Mesa and put an end to the maddness?
With shares at .03 i wonder what they can be bought for?

The company is in Chapter 11. The stock price means nothing. Normally the stock will be wiped out and its value will be 0 when the company emerges from Chapter 11. They generally reissue new stock for sale. Original stockholders are left with nothing. They don't even get any new shares.
If you want to purchase the company in chapter 11 you can submit a POR after the exclusive period runs out for mesa to submit their own plan. You would negotiate with the creditors committee in that case.

07-31-2010 | 12:09 PM

#1094

hslightnin

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From: EMB145

Quote:

Originally Posted by newcfii

When is Freedom's flying ending and what is Mesa's plan with the employees? If they have a plan? And if it's the street, how many employees?

200 pilots + other support groups
furloughs slated for 9/1 and 11/1
DL ops end 8/31

[edit: delete quoted flamebait]

Last edited by TonyWilliams; 08-01-2010 at 07:40 AM.

07-31-2010 | 12:26 PM

#1095

ToiletDuck

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Stock price doesn't equal company value.

07-31-2010 | 02:59 PM

#1096

pilotrob23

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From: Phoenix

agreed. If, a big if, this happens, how would the seniority work? Since psa has roughly 500 pilots and mesa almost has that much on the street?!

07-31-2010 | 03:17 PM

#1097

rickair7777

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From: Engines Turn or People Swim

Quote:

Originally Posted by pilotrob23

agreed. If, a big if, this happens, how would the seniority work? Since psa has roughly 500 pilots and mesa almost has that much on the street?!

Historically (and taking into account the new federal law) the active pilots would be integrated by some equitable system and the furloughs would be stapled.

07-31-2010 | 03:42 PM

#1098

pilotrob23

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From: Phoenix

i dont think so. I heard that mesa, the buying company, would recall all their pilots. I dont think many will come back. Could b a mess

07-31-2010 | 05:10 PM

#1099

paxhauler85

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[edit: delete quoted flamebait]

[edit: remove insults and flamebait]

Post your -900 CA rates so we can compare them with ours.

[edit: remove insults and flamebait]

Last edited by TonyWilliams; 08-01-2010 at 07:40 AM.

07-31-2010 | 05:45 PM

#1100

DeadStick

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[edit: delete quoted flamebait]

I'm a Mesa pilot. I have several friends at PSA. [edit: delete flamebait] To reiterate, Mesa will not accept concessions to keep the 900 flying. For what it's worth, if Mesa does lose the 900 contract we'll have furloughed approximately 1000 pilots, that is assuming liquidation hasn't happened.

I have heard that PSA's MEC has approached US claiming that they will fly the 900's for less than Mesa. TexasPilot, I'd be very curious to hear the details of said 900 LOA.

Last edited by TonyWilliams; 08-01-2010 at 07:49 AM.