Mesa Cash Crunch
05-22-2008 | 05:26 PM
#23
Gets Weekends Off
Joined: Aug 2006
Posts: 325
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From: CRJ FO
I know it would require funds which us pilots really dont have alot of. But with the price at an all time low and what seems like only going lower. How much and how many shares would it take to get controlling interest in Mesa? It would be funny if the pilot group had controlling interest in MESA and could have the power to fire him. I know easier said than done
05-22-2008 | 07:27 PM
#26
Line Holder
Joined: Jan 2006
Posts: 1,737
Likes: 15
Cash balance as of December 31, 2007 was $67 million, with 7 million of that restricted cash. They have not yet released their first quarters number (I wonder what they are trying to hide!). Given the money they burned through operating Go! in the first quarter, they certainly lost money in the first quarter. Now Delta is going to pull $20 million a month in revenue from Mesa, yet Mesa still has to pay those pilots/FA/ground crew on payroll and 36 ERJ's on leases. The Air Midwest shutdown is going to cost them money. Again, pilots/FA/ground crew on payroll.
I just cant see how long they can survive on that $60 million cash balance when they are losing money left and right, and their stock is worthless.
I just cant see how long they can survive on that $60 million cash balance when they are losing money left and right, and their stock is worthless.
05-22-2008 | 08:18 PM
#27
Go Knights Go
Joined: Apr 2008
Posts: 261
Likes: 0
From: OCC/Dispatch
I wouldn't exactly count on MAG losing the Delta lawsuit. I'm sure I'm in the minority here, but DL claims to be dropping F8 over failure to meet preformance goals. Yet the nucleus of the situation envolves Delta trying to adjust the nums for DL intiated cxl, if you removed the DL intiated cxl you see the F8 is still meeting contractual obligations. BTW for at least three months that Delta calims Freedom didn't meet expectations they still paid them there preformance bonus.
05-22-2008 | 08:33 PM
#28
Gets Weekends Off
Joined: Jun 2006
Posts: 919
Likes: 0
I know it would require funds which us pilots really dont have alot of. But with the price at an all time low and what seems like only going lower. How much and how many shares would it take to get controlling interest in Mesa? It would be funny if the pilot group had controlling interest in MESA and could have the power to fire him. I know easier said than done
05-22-2008 | 09:05 PM
#29
Line Holder
Joined: Jun 2006
Posts: 42
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From: Chairflying
True, fun thought, but it would be a bad move. Sure, the pilots could pool their money together and buy the equity stake in Mesa, but then the existing debt obligations would take the company away when there is no money to pay the bills.
I like where you are going with this... back to the drawing board.
I like where you are going with this... back to the drawing board.
05-22-2008 | 09:06 PM
#30
Gets Weekends Off
Joined: Nov 2006
Posts: 439
Likes: 0
I am not sure the pilot group would come up with enough money.
I just ran the numbers at 60,000 pilots, I read somewhere that was about how many of us there are, but room for correction and 45 cents a share.
27000 a person. I know I cannot swing that
I just ran the numbers at 60,000 pilots, I read somewhere that was about how many of us there are, but room for correction and 45 cents a share.
27000 a person. I know I cannot swing that
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