Uh Oh. Mesa just cancelled the note agrmnt
02-10-2009 | 11:00 AM
#71
Gets Weekends Off
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The reason JO can't declare BK.....gives their codeshare partners outs on the current contracts. IE, the shell game is being played with no balls under any of the 3 shells.....so once the spinning stops, not so good.
I was one of the 700+ that left for greener pastures in 2007 and I wish my former brothers/sisters luck but life is better most ANYWHERE else.
If MESA folds and loses everything and pilots are out of jobs, they will lose seniority, and pay, and jobs temporarily....but most of the flying will still have to be done by the other regionals/mainline partners. This movement of jobs to better places while a tough pill to swallow is better for the aviation community as a whole!
I was one of the 700+ that left for greener pastures in 2007 and I wish my former brothers/sisters luck but life is better most ANYWHERE else.
If MESA folds and loses everything and pilots are out of jobs, they will lose seniority, and pay, and jobs temporarily....but most of the flying will still have to be done by the other regionals/mainline partners. This movement of jobs to better places while a tough pill to swallow is better for the aviation community as a whole!
02-10-2009 | 12:41 PM
#72
Prime Minister/Moderator
Joined: Jan 2006
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From: Engines Turn or People Swim
I doubt that all of the airlines will pursue that especially now when they need cheap labor. No doubt a BK would mean downsizing but ultimately the company will not liquidate, some aspects of Mesa are still valuable particularly the CRJ9 and maybe even the GO! operation. UA already gave out a bid proposal for Mesa flying at least that's what some were saying here.
02-10-2009 | 12:45 PM
#73
Gets Weekends Off
Joined: Jun 2008
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From: Checking essential
I doubt that all of the airlines will pursue that especially now when they need cheap labor. No doubt a BK would mean downsizing but ultimately the company will not liquidate, some aspects of Mesa are still valuable particularly the CRJ9 and maybe even the GO! operation. UA already gave out a bid proposal for Mesa flying at least that's what some were saying here.
02-10-2009 | 12:50 PM
#74
Che Guevara
Joined: Aug 2005
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I doubt that all of the airlines will pursue that especially now when they need cheap labor. No doubt a BK would mean downsizing but ultimately the company will not liquidate, some aspects of Mesa are still valuable particularly the CRJ9 and maybe even the GO! operation. UA already gave out a bid proposal for Mesa flying at least that's what some were saying here.
02-10-2009 | 06:43 PM
#75
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Looking back at the last time a regional went BK (Independence/ACA?) it was definitely a hands-down Ch. 7 affair. The CRJs were parked for years and the A319's were simply transferred by the leasing companies to different airlines as fast as they could get repainted. They had the place stripped and buttoned up really quickly. There wasn't really anything there that didn't get reposessed immediately by the owning company.
02-10-2009 | 06:53 PM
#76
Prime Minister/Moderator
Joined: Jan 2006
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From: Engines Turn or People Swim
Looking back at the last time a regional went BK (Independence/ACA?) it was definitely a hands-down Ch. 7 affair. The CRJs were parked for years and the A319's were simply transferred by the leasing companies to different airlines as fast as they could get repainted. They had the place stripped and buttoned up really quickly. There wasn't really anything there that didn't get reposessed immediately by the owning company.
02-10-2009 | 07:41 PM
#77
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From: CRJ 200/700/900 CA & Instructor
That was a whole different scenario...indy was NOT a regional, when they ran out of money, they were done. In the case of mesa there might (or might not) be some flying which still needs to be done. If I had to guess the airways 900 flying has the best chance of surviving, since those 900's cannot be easily replaced...a mesa-light consisting of 40 900's and maybe a few dash-8's would be staffed by about 500 pilots (and hopefully a new CEO). Actually those pilots might make out...the judge might give them an "industry standard" contract.
Last edited by bradeku1008; 02-10-2009 at 08:09 PM.
02-10-2009 | 09:11 PM
#78
Go Knights Go
Joined: Apr 2008
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From: OCC/Dispatch
I think Doug Parker is done with Mesa. Ch 11 or 2012 which ever comes first. Also talking about the stock price look at the article from CNBC UPDATE 1-Mesa ends agreement on certain senior notes - News - CNBC.com it talks about Feb 11 being the day that they will no longer resume talkes with their note holders. I think that after Feb 11 it will be interesting when those companies are demanding money and Mesa dosent have it.
02-10-2009 | 09:14 PM
#79
Go Knights Go
Joined: Apr 2008
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From: OCC/Dispatch
[quote=RiddleEagle18;555145]couple things.
1. sounds like JO may have been up to something illegal again...
"In response to a recent regulatory inquiry regarding such exchange agreements"
This doesn't say the the inquriy specifaclly pertains to Mesa. It simply says that the deal was rescinded due to 'regulatory inquriy' in general.
1. sounds like JO may have been up to something illegal again...
"In response to a recent regulatory inquiry regarding such exchange agreements"
This doesn't say the the inquriy specifaclly pertains to Mesa. It simply says that the deal was rescinded due to 'regulatory inquriy' in general.
02-11-2009 | 07:29 AM
#80
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,864
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From: Engines Turn or People Swim
IIRC, he has said as much publicly. But replacing 40 900's might be tough...as much as everyone wants to cut capacity, mainline LOVES 900's (mainline capacity, regional cost structure). I think the delivery slots are all accounted for a ways out so in order to replace the MAG birds, DP would have to do a deal with another regional several years in advance to allow them to obtain delivery slots. Or airways could buy the 900's themselves now and farm them out later...not sure they have the credit rating for that though.
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