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I'd certainly like to see more than 50 seats on the US Airways flights I take often. The STL-PHL run is populated primarily by AWAC and they are always booked solid, if not oversold. Even the few RW trips are full. With the loads picking up, it looks like the 50 seaters are gonna get pushed out of the more popular stuff.
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Originally Posted by johnso29
(Post 174358)
Actually, I believe when Whiskey saved their butts by purchasing a bunch of UsAir stock, part of the deal was that they got flying for the next 10 years, so I don't see that happening any time soon. Somebody please correct me if I'm wrong....BoilerUp maybe?
In exchange for Eastshore Aviation, LLC ("the private equity arm of Air Wisconsin Airlines Corporation") providing $125m in exit financing for US Airways, Eastshore got $250m in stock once LCC emerged from BK and Air Wisconsin got a 10 year contract for 70 50-seaters. |
Originally Posted by BoilerUP
(Post 174378)
, Eastshore got $250m in stock once LCC emerged from BK
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Originally Posted by fosters
(Post 174382)
Close...$125 million in cash equated to $125 million in stock, not $250. 8.3 million shares @ $15/share. Out of that, the last time I looked, they still owned 3 million or so shares.
According to SEC filings and Yahoo! Finance, Eastshore had 8.3m shares of LCC on 9/27/05 (when they emerged from BK) and sold 1m shares on 3/15/06...that still gives them 7.3m shares. |
So does anyone know if this rumor is true?
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I've been watching this rumor closely as I will be starting training for RW in July and plan to live near PHL (family). What I have heard so far is that its still just rumor but is about the same as the ATL rumor for S5. Sounds like a good chance, but still completely rumor till a press release.
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ATL is not a rumor, it is fact. Crews have been assigned.
Maybe I misunderstood your post, I dunno. You may have been comparing the PHL rumor to the "old" ATL rumor. |
Originally Posted by KiloAlpha
(Post 174450)
Maybe I misunderstood your post, I dunno. You may have been comparing the PHL rumor to the "old" ATL rumor.
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Originally Posted by BoilerUP
(Post 174408)
I thought they got double in stock what they gave in exit financing...but given what you've said I was mistaken.
According to SEC filings and Yahoo! Finance, Eastshore had 8.3m shares of LCC on 9/27/05 (when they emerged from BK) and sold 1m shares on 3/15/06...that still gives them 7.3m shares. 8-Feb-07 *20,000 LCC Sale at $58.25 - $58.63 per share. 7-Feb-07 *80,000 LCC Sale at $58 - $58.34 per share. 6-Feb-07 *176,800 LCC Sale at $58 - $58.32 per share. 6-Feb-07 *83,200 LCC Sale at $58.33 - $58.68 per share. 23-Oct-06 *300,000 LCC Automatic Sale at $50 - $50.4 per share. 20-Oct-06 *700,000 LCC Automatic Sale at $49.73 - $50.2 per share. 5-Jun-06 *3,050,000 LCC Sale at $45.20 per share. + 1,000,000 sold under Eastshore... Makes a grand total of 5,410,000 shares sold. To further my point, look here: http://www.gurufocus.com/InsiderBuy....lett+Richard+A And look at the "shares owned after trade" under Richard Bartlett. It's exactly 2,923,333, or Eastshore's original 8,333,333 shares awarded minus the Eastshore and Bartlett trades. Another point: http://yahoo.brand.edgar-online.com/...Xni&ID=4717113 Look on the right hand side of the table, under #7 - "Nature of Indirect Beneficial Ownership". Who are Bartlett's shares benefiting? Why, Eastshore Aviation LLC. Here's a bio on Mr. Bartlett. http://www.forbes.com/finance/mktgui...rsonId=1106379 |
Did not know any of that about Mr. Bartlett; according to Yahoo Finance he is listed as a "Director" of LCC when it comes to insider transactions, and Eastshore Aviation is listed separately.
Guess that's why I never made the connection between the two...but thanks for the multiplication lesson! Maybe that'll come in handy some day... |
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