Mesa Air Group Chapter 11 Info
01-19-2010 | 06:19 AM
#131
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From: Engines Turn or People Swim
Flightglobal article:
Mesa Feels the Squeeze
Dallas Morning News article with a good breakdown on planned fleet reduction numbers:
Some more details from Mesa Air's bankruptcy filing
winglet
Mesa Feels the Squeeze
Dallas Morning News article with a good breakdown on planned fleet reduction numbers:
Some more details from Mesa Air's bankruptcy filing
winglet
01-19-2010 | 09:39 AM
#132
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From: Embraer Systems Analyst
* Lotz's affidavit said that many of the aircraft were leased for periods longer than the code-sharing agreements with the larger airlines, opening up Mesa to risks that it could lose a partner or its partner wanted fewer or different airplanes on renewal.
"These risks were recognized at the time these aircraft were leased but given the fundamental changes to the aviation industry and the more recent downturn in the credit markets during the past year, it was not foreseeable that demand for certain regional aircraft would literally evaporate in less than three years," the affidavit said.
That sums it up right there. Poor management, greed and bottom feeding to the point where UA didn't need to dump their RJs but did anyways.
"These risks were recognized at the time these aircraft were leased but given the fundamental changes to the aviation industry and the more recent downturn in the credit markets during the past year, it was not foreseeable that demand for certain regional aircraft would literally evaporate in less than three years," the affidavit said.
That sums it up right there. Poor management, greed and bottom feeding to the point where UA didn't need to dump their RJs but did anyways.
01-19-2010 | 06:57 PM
#134
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Mesa submitted a motion today for authorization to assume the amended Delta code-share agreement.
On a case-by-case basis, bankruptcy code allows for the assumption (affirmation and acceptance) or rejection (termination and surrender) of executory contracts prior to submission of a reorganization plan . This move makes it possible to force the issue out of the distict court into an assumption, rejection or settlement of the contract.
See: Section 365 of the Bankruptcy Code
winglet
On a case-by-case basis, bankruptcy code allows for the assumption (affirmation and acceptance) or rejection (termination and surrender) of executory contracts prior to submission of a reorganization plan . This move makes it possible to force the issue out of the distict court into an assumption, rejection or settlement of the contract.
See: Section 365 of the Bankruptcy Code
winglet
01-19-2010 | 07:06 PM
#135
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* Lotz's affidavit said that many of the aircraft were leased for periods longer than the code-sharing agreements with the larger airlines, opening up Mesa to risks that it could lose a partner or its partner wanted fewer or different airplanes on renewal.
"These risks were recognized at the time these aircraft were leased but given the fundamental changes to the aviation industry and the more recent downturn in the credit markets during the past year, it was not foreseeable that demand for certain regional aircraft would literally evaporate in less than three years," the affidavit said.
That sums it up right there. Poor management, greed and bottom feeding to the point where UA didn't need to dump their RJs but did anyways.
"These risks were recognized at the time these aircraft were leased but given the fundamental changes to the aviation industry and the more recent downturn in the credit markets during the past year, it was not foreseeable that demand for certain regional aircraft would literally evaporate in less than three years," the affidavit said.
That sums it up right there. Poor management, greed and bottom feeding to the point where UA didn't need to dump their RJs but did anyways.
Here is a good September 2009 Airline Business article that addresses the issue: US Regionals Feeling the Squeeze
And more from Europe: Eurowings axing hundreds of jobs to focus on CRJ900 ops
winglet
Last edited by winglet; 01-19-2010 at 07:40 PM.
01-19-2010 | 07:09 PM
#136
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From: N/A
Mesa submitted a motion today for authorization to assume the amended Delta code-share agreement.
On a case-by-case basis, bankruptcy code allows for the assumption (affirmation and acceptance) or rejection (termination and surrender) of executory contracts prior to submission of a reorganization plan . This move makes it possible to force the issue out of the distict court into an assumption, rejection or settlement of the contract.
See: Section 365 of the Bankruptcy Code
winglet
On a case-by-case basis, bankruptcy code allows for the assumption (affirmation and acceptance) or rejection (termination and surrender) of executory contracts prior to submission of a reorganization plan . This move makes it possible to force the issue out of the distict court into an assumption, rejection or settlement of the contract.
See: Section 365 of the Bankruptcy Code
winglet
01-19-2010 | 07:12 PM
#137
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1. Assumed = $$$
2. Rejected = 0
3. Settled = $$$
4. ?
winglet
Last edited by winglet; 01-19-2010 at 07:23 PM.
01-19-2010 | 07:38 PM
#138
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* Lotz's affidavit said that many of the aircraft were leased for periods longer than the code-sharing agreements with the larger airlines, opening up Mesa to risks that it could lose a partner or its partner wanted fewer or different airplanes on renewal.
"These risks were recognized at the time these aircraft were leased but given the fundamental changes to the aviation industry and the more recent downturn in the credit markets during the past year, it was not foreseeable that demand for certain regional aircraft would literally evaporate in less than three years," the affidavit said.
That sums it up right there. Poor management, greed and bottom feeding to the point where UA didn't need to dump their RJs but did anyways.
"These risks were recognized at the time these aircraft were leased but given the fundamental changes to the aviation industry and the more recent downturn in the credit markets during the past year, it was not foreseeable that demand for certain regional aircraft would literally evaporate in less than three years," the affidavit said.
That sums it up right there. Poor management, greed and bottom feeding to the point where UA didn't need to dump their RJs but did anyways.
I just have this funny recollection of a company called ACA that Mesa bid against to secure this UAL flying and help drive ACA out of business. I wouldn't be surprised that part of the reason Mesa was able to underbid ACA was cheaper lease rates they secured for having those airplanes beyond the CPA with UAL.
01-19-2010 | 07:54 PM
#139
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Nice screen name winglets.
Main Entry: orig·i·nal·i·ty
Pronunciation: \ə-ˌri-jə-ˈna-lə-tē\
Function: noun
Date: 1742
1 : the quality or state of being original
2 : freshness of aspect, design, or style
3 : the power of independent thought or constructive imagination
Main Entry: orig·i·nal·i·ty
Pronunciation: \ə-ˌri-jə-ˈna-lə-tē\
Function: noun
Date: 1742
1 : the quality or state of being original
2 : freshness of aspect, design, or style
3 : the power of independent thought or constructive imagination
01-19-2010 | 08:28 PM
#140
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Nice screen name winglets.
Main Entry: orig·i·nal·i·ty
Pronunciation: \ə-ˌri-jə-ˈna-lə-tē\
Function: noun
Date: 1742
1 : the quality or state of being original
2 : freshness of aspect, design, or style
3 : the power of independent thought or constructive imagination
Main Entry: orig·i·nal·i·ty
Pronunciation: \ə-ˌri-jə-ˈna-lə-tē\
Function: noun
Date: 1742
1 : the quality or state of being original
2 : freshness of aspect, design, or style
3 : the power of independent thought or constructive imagination
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