Go Back  Airline Pilot Central Forums > Airline Pilot Forums > Regional
Frontier gets another 40Mil from RAH >

Frontier gets another 40Mil from RAH

Notices
Regional Regional Airlines

Frontier gets another 40Mil from RAH

Old 03-05-2009, 04:32 PM
  #1  
Line Holder
Thread Starter
 
Joined APC: Jul 2007
Posts: 35
Default Frontier gets another 40Mil from RAH

http://uk.reuters.com/article/governmentFilingsNews/idUKN0536101220090306
*Republic to provide $40 mln DIP financing to Frontier

*Republic to get damage claim of $150 mln

*Agreement needs court approval

NEW YORK, March 5 (Reuters) - Frontier Airlines Holdings Inc (FRNTQ.PK) said on Thursday it received a commitment for $40 million debtor-in-possession financing from Republic Airways Holdings Inc (RJET.O).

The airline, which filed for Chapter 11 bankruptcy protection on April 10, 2008, said the new financing, which matures in April, preserves its stability as it seeks a plan to emerge from bankruptcy later this year.

It said that the financing comes with a condition that Frontier allow Republic a stipulated damage claim in the amount of $150 million. The agreement also needs to be approved by bankruptcy court.

Frontier already received $30 million in DIP funding from Republic and Credit Suisse Securities and AQR Capital in August 2008. Republic said in the statement that Frontier is on the right path to emerge from bankruptcy this summer. (Reporting by Sinead Carew; Editing by Gary Hill)
katana is offline  
Old 03-05-2009, 04:33 PM
  #2  
Gets Weekends Off
 
Joined APC: Jan 2008
Posts: 112
Default

Hit the submit button one too many times?
Tiger2Flying is offline  
Old 03-06-2009, 06:54 AM
  #3  
Gets Weekends Off
 
Sniper's Avatar
 
Joined APC: Oct 2006
Posts: 1,001
Default

So, RAH has $ with US Airways, Midwest, Frontier, and Mokulele right now, right?

Are there any I'm missing? United?
Sniper is offline  
Old 03-06-2009, 07:58 AM
  #4  
Gets Weekends Off
 
Killer51883's Avatar
 
Joined APC: Feb 2007
Position: E-170
Posts: 842
Default

next youll see them bailling out AIG and BOA
Killer51883 is offline  
Old 03-06-2009, 08:22 AM
  #5  
Line Holder
 
Joined APC: Sep 2007
Posts: 96
Default

Originally Posted by Sniper View Post
So, RAH has $ with US Airways, Midwest, Frontier, and Mokulele right now, right?

Are there any I'm missing? United?

So here we are again... RAH bailing out an airline... How come the Frontier pilots are not angry with this? They must know that their management will get with BB and try to whipsaw them in a near future... Oh, wait it is ok because for right now their job is safe...

I will listen to no complaints in the future.
planediveguy is offline  
Old 03-06-2009, 08:48 AM
  #6  
Gets Weekends Off
 
Sniper's Avatar
 
Joined APC: Oct 2006
Posts: 1,001
Default

It just happened yesterday, give it time.
Sniper is offline  
Old 03-06-2009, 09:03 AM
  #7  
Gets Weekends Off
 
Joined APC: Oct 2008
Position: CL-65 F/O
Posts: 265
Default

This is interesting. I'm sick of RAH though - already. BB needs to worry about his own company before he worries about others. How about giving his pilots a new contract?
DublinFlyer is offline  
Old 03-06-2009, 09:17 AM
  #8  
Banned
 
Joined APC: Jan 2006
Position: A-320
Posts: 6,929
Default

RAH= THE CANCER that is killing this Industry
JoeyMeatballs is offline  
Old 03-06-2009, 09:24 AM
  #9  
Gets Weekends Off
 
Joined APC: Jul 2007
Posts: 919
Default

Originally Posted by SAABaroowski View Post
RAH= THE CANCER that is killing this Industry

RAH is loaning money to a company to help it emerge from bankruptcy. In essence, helping to secure just over 700 pilot jobs. Please explain to me how this is the behavior of a cancer?

Loaning money to keep business partners alive is just a good business practice. On top of that, it saves jobs.
flyguy23 is offline  
Old 03-06-2009, 09:34 AM
  #10  
Banned
 
Joined APC: Jan 2006
Position: A-320
Posts: 6,929
Exclamation

Originally Posted by flyguy23 View Post
RAH is loaning money to a company to help it emerge from bankruptcy. In essence, helping to secure just over 700 pilot jobs. Please explain to me how this is the behavior of a cancer?

Loaning money to keep business partners alive is just a good business practice. On top of that, it saves jobs.
Oh............its out of the HOLY nature of BB? He is not going to save the jobs of Frontier guys, hes going to undercut them with RAH pilots.............

When are you guys going to realize there isn't going to be any jobs left worth going to because everyone seems to be happy flying 70+ seat airplanes for garbage pay.................
JoeyMeatballs is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
katana
Regional
4
03-11-2009 12:21 PM
4 Fan Trashcan
Mergers and Acquisitions
7
01-28-2009 09:27 AM
rickkane
Compass Airlines
143
12-04-2008 01:19 PM
pprada1
Regional
19
09-06-2008 05:16 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices