|
Originally Posted by BoilerUP
(Post 263663)
How does RAH own $91M of Comair?
Why would RAH want a bunch of old CRJs that aren't compatible with their current fleet outside of the 20ish CRJs flying for CAL? Besides, the one thing RAH pilots have is a great scope clause and senior members of the pilot group vividly remember the Republic Airlines 1 struggle during the 2003 negotiations. On March 13, Republic had said its Chautauqua Airlines and Shuttle America operating units obtained the $91 million pre-petition claim in exchange for Delta's surrender of warrants on about 3.4 million Republic shares. © Reuters 2007. All Rights Reserved. | Learn more about Reuters Republic Airways to purchase 2 Million shares for $41 Million Mon Mar 19, 2007 4:39PM EDT March 19 (Reuters) - Airline holding company Republic Airways Holdings Inc. (RJET.O: Quote, Profile, Research) said it would purchase 2 million of its common shares from WexAir LLC, a former majority shareholder, for $41 million. The shares will be purchased at $20.50 a share and the transaction will be completed on or before March 21, the company said in a statement. (Reporting by Anant Vijay Kala in Bangalore Follow the money. RAH buys back stock from Wexford to the tune of 41 mil. Then an unnamed company/person buys the Delta debt for 44 mil a couple of weeks later (read Wexford). Now Wexford has a 91 mil debt credit to use against Delta comming out of bankruptcy and Delta has said that Comair might be on the block. If RAH bought Comair they would fall under the RAH CBA and scope. If Wexford buys Comair they are a seperate company (controlled by the same people). They tried the same thing with CHQ and Shuttle before they were forced to merge. |
Originally Posted by ToiletDuck
(Post 263673)
You asked that same question before to someone and here was their reply.
That's right, because it doesn't. At least not directly... It doesn't make financial sense to me (admittedly not an accountant) for RAH to purchase Comair. Why buy a company with a largely bitter, militant pilot group that has a mostly old, dissimilar fleet from your own? Of course the CHQ CRJs could be shifted to Comair for DCI flying and CHQ/DCI 145s could be shifted to CAL...but that'd create a shiatstorm of untold magnitude across the board. If I'm not mistaken, Wexford has or is in the process of divesting itself of RAH shares. That certainly doesn't mean they wouldn't provide $$$ for a future deal, however... |
Originally Posted by BoilerUP
(Post 263689)
You still haven't explained how RAH getting a $91m claim for DAL surrendering RAH shares during their bankruptcy equates to "owning $91M worth of Comair."
That's right, because it doesn't. At least not directly Same thing China is doing to the US which is another reason the dollar has been diving down. There are a multitude of reasons why it's benificial to own buy them. It has nothing to do with the pilot group. Nothing at all. RAH could simply purchase comair then fire them all if they wanted to. It's happened before. Or they could purchase a ticket for the pilot group to help with staffing issues on the boat load of 170/175s they'll be getting in. That's happened before too. |
Remember this is all speculation based on a few facts out there. But the few facts here outweigh the world of speculation.
|
Originally Posted by ToiletDuck
(Post 263703)
Remember this is all speculation based on a few facts out there. But the few facts here outweigh the world of speculation.
|
Originally Posted by ToiletDuck
RAH could simply purchase comair then fire them all if they wanted to. It's happened before.
I'm done with you... |
Originally Posted by BoilerUP
(Post 263720)
This comment ALONE proves just how ignorant of the collective bargaining process you truly are.
I'm done with you... |
Originally Posted by ToiletDuck
Get's old posting facts like the company stake in another company and somehow you still manage to try and argue it lol.
1. Shuttle guys didn't get FIRED. I was much closer to RAH at the time of that integration than you were, believe me. 2. You still haven't made the connection between RAH's BK stake in Delta and owning $91m of Comair. None of the "facts" you have posted support such an assertion, nor do any of the SEC releases I have read over that time say anything about RAH assuming Comair's debt. Here is the 8-K RJET filed on 14 March: Entry into a Material Definitive Agreement Item 1.01 Entry into a Material Definitive Agreement. On March 13, 2007, Chautauqua Airlines, Inc. ("Chautauqua") and Shuttle America Corporation ("Shuttle America"), wholly owned subsidiaries of Republic Airways Holdings Inc. (the "Company") have amended their fixed-fee agreements with Delta Air Lines. The amendments provide for early removal of all 15 E135 aircraft between September 2008 and April 2009 at a rate of 2 aircraft per month, and an approximate 3% reduction in the reimbursement rates on Chautauqua's 24 fifty seat E145 aircraft and Shuttle America's 16 seventy seat E170 aircraft for the remaining term of the agreements. In return for these concessions, the Company and Delta have agreed to a negotiated pre-petition claim in the amount of $91 million, and Delta will surrender all of its warrants on approximately 3.4 million shares of the Company's common stock. As Stark would say, SEEEEEEEEEEEEEEEEEEEEYAAAAAAAAAA |
Originally Posted by ScaryKite
(Post 262908)
crazier things have happened! BB has had some subtle prophecies in some of his weekly sermons! I wouldnt doubt to see it happen!
:D edit: I promise PROMISE I will behave. YAH BAYBE!!! YA!!! So naughty!!! OH BEHAVE! :D:D |
Originally Posted by ToiletDuck
(Post 263729)
Or how uneducated you are on the subject. Perhaps you should read about what happened to the Shuttle guys when they were purchased. Not saying it would happen as the industry would have to be on one horrible last leg for it to get there just saying the pilot group of another airline isn't a hurdle for management. Glad you're done. Get's old posting facts like the company stake in another company and somehow you still manage to try and argue it lol.
|
| All times are GMT -8. The time now is 01:33 AM. |
Website Copyright © 2026 MH Sub I, LLC dba Internet Brands