newarkblows |
06-22-2009 09:38 PM |
no one knows how this will all play out in the end. They may just sell the assets, return the aircraft to the lease holders in bankruptcy, and sell off or use the name. The f9 pilots are by the balls on this one. their choice is bankruptcy where their contract will be re-written to favor republic or give voluntary concessions to the same tune.... its not going to be pretty. Or if bedford is planning on keeping f9 to get them into bankruptcy protection where they can go after their employee contracts to make this jumble of carriers more cost efficient and take down all of those pesky scope clauses ....
You would think that this would HAVE to be an asset grab due to their current CPA's and contracts. I know CAL is small potatoes for CHQ but they will be pretty ****ed if they keep it operating as a seperate entity.
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