Not yet. The next big hearing is on February 9th. The matter of the remaining unused aircraft will be on the agenda.

winglet

 

Winglet,

Can you post the actual link to the bankruptcy court with the motion to get rid of the 900 and 700.

 

Im sorry I havent really been following because I am not one of the vulchers circling hoping to pick up flying from this mess and I really don't understand the bankruptcy process so could someone tell me
Are they just trying to get rid of all of these planes and start over or are they trying to renegotiate lower lease rates on all of these?

 

A little bit of both. Some they will dump and some that they most likely intend to keep (-700s and -900s) they will try and renegotiate leases on.

 

I commend your vow to resign your position rather than benefit from Mesa's BK, should pinnacle expand in any way.

Do you really think any of our opinions matters one **** to the BK process or who benefits or loses from it?

 

http://i1.trekearth.com/photos/766/vulture.jpg

 

Mesa Air Group, the Unsecured Creditor's Committe, and Delta each submitted their position letters today concerning Mesa's motion to assume the 2005 Delta contract under Section 365 of the Bankruptcy Code.

Mesa and the Creditors submitted a schedule to assume the Delta contract under Bankruptcy Law and have the litigation transferred from the district court (Atlanta) to the bankruptcy court (New York).

As expected, Delta's letter requests that the litigation be resolved in the district courts in Atlanta.

If the litigation is transferred from District Court to Bankruptcy Court then the Creditor's Committee, the Trustee, and the Judge will be the deciders concerning Mesa's assumtion of the contract. Unlike the District Court, they are more interested in what will make Mesa a viable company not in who wronged who first.

Regardless of which court the litigation is tried in, it appears that Mesa has succeeded in forcing the schedule and brought the issue into the forefront. Forcing this issue is probably the primary reason Mesa chose to declare bankruptcy.

There is now pressure on Delta to either settle, have Mesa assume the contract, or have a court injunction turned around, which is rare. Mesa would probably prefer a large settlement as it would provide some sorely needed cash and ease the process of returning the 50 seaters.

The Judge's views on this matter will be a deciding factor in this case if not the deciding factor.

Here we go...

winglet

 

InvertedLoop,

Here is a link to the Court Dockets. See Docket # 168.

MAG doesn't want to get rid of any 700's or 900's. If you would like to read what I said about the 700's and 900's see posts #175 and #193.

winglet

 

What's the deal with the 10 700s mesa was supposed to add? Is that completely seperate from the bankruptcy? Any news?

 

Winglet,

First thank you for continous efforts in your very infofmational posts.

Regarding the qoute above it would be wise to remember the creditors interest is not in exclusively making Mesa viable but what would recoup there money.