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Originally Posted by ToiletDuck
(Post 438349)
I don't know where they stand now but Frontier became limited on the routes they could use the Q400s because they didn't have oxygen masks. At least at the time. I'm not sure if they've fixed that issue or not.
Checko |
A debtor in possession, in United States bankruptcy law, is a person or corporation who has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. A corporation which continues to operate its business under Chapter 11 bankruptcy proceedings is a debtor in possession. Under certain circumstances, the debtor in possession may be able to keep the property by paying the creditor the fair market value, as opposed to the contract price. This is often the case where the property is a personal vehicle which has depreciated in value since the time of the purchase, and which the debtor needs in order to be able to find or continue employment to pay off his debts. Debtor in possession - Wikipedia, the free encyclopedia |
Originally Posted by ToiletDuck
(Post 438348)
Perhaps you need to learn how a BK works. RAH isn't becoming a shareholder they are becoming a creditor. They want assets. You need to go take a look at how RAH got the 170s in the first place.
When US Air went into BK RAH gave US Air DIP financing just like here. They managed to secure assests by doing it which were the 170(or 175s I can't remember which one we fly for them) along with the gates in DCA. Later they turned around and now lease the gates back making good money. Let the rumors fly on if RAH is after aircraft lol. There's one thing Bedford is good at and that's making money. Whether or not these decisions will end up being good/bad for the employment group who knows but the man does know how to put money in the company's wallet. |
Originally Posted by Flex81
(Post 438379)
I typed that before I heard the news. I am sure RAH will get some money out of it now, whether F9 succeeds OR folds. They weren't going to get any otherwise. I didn't even think about RAH loaning money to Frontier since they were already off the property. Ol' BB is a smart dude!
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F9 is only getting $100m from a venture capital company in the DEN area. That sounds like a lot of cash but not when you're running an airline. Besides the Teamsters are trying to shoot down the recipt of the money.:confused:
DENVER - The Teamsters Union is trying to block Frontier Airlines' new financing deal. Last week, a private equity firm agreed to lend Frontier $75 million, but the Teamsters say the deal is contingent on more wage and benefit concessions by pilots and mechanics. The Teamsters say that's not only unfair, it's in violation of existing labor contracts. The Teamsters have asked a bankruptcy judge to throw out the deal. Frontier Airlines has not made a comment. (Copyright KUSA*TV All Rights Reserved.) |
They are ditching Perseus for this new deal.
It isn't just RAH giving them money, its them and two other groups. |
good ting too... with the other deal from Perseus, they could have ended up owning the controling majority of the company if things went south. Can you say liquidation of assests!:eek:
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Originally Posted by steak pilot
(Post 438752)
good ting too... with the other deal from Perseus, they could have ended up owning the controling majority of the company if things went south. Can you say liquidation of assests!:eek:
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