Objection 2 Delta's DIP financing 4 Pinnacle

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04-25-2012 | 08:04 AM

#21

FlyingKat

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From: Taco Rocket Operator

Quote:

Originally Posted by Bucking Bar

If Delta's DIP motion is set aside as a result of this motion, I'd expect the result for the Company to be a dissolution.

Agreed. If this DIP loan is rejected by the court, you will probably see some kind of orderly shutdown similiar to what happened at FLYI.

04-25-2012 | 08:22 AM

#22

avi8tor220

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Can Delta handle 177 planes getting phased out in a short amount of time, especially with the busy summer season coming up?

04-25-2012 | 08:35 AM

#23

duvie

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From: WB Bunkie

Quote:

Originally Posted by johnso29

I believe it's 140 CRJ200's.

FWIW, according to APC Pinnacle & Mesaba together have 143 CRJ-200s and 57 CRJ-900s, all of which fly for Delta I believe.

04-25-2012 | 08:39 AM

#24

Sink r8

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Quote:

Originally Posted by FlyingKat

Bankruptcy case law clearly stipulates that all creditors have to be treated equally.

Are the parties objecting to the motion creditors, or shareholders? Or is a shareholder a creditor under the law, somehow?

04-25-2012 | 08:41 AM

#25

MunkyButtr

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Quote:

Originally Posted by johnso29

I believe it's 140 CRJ200's.

And 50 or so 900s

04-25-2012 | 08:45 AM

#26

SmitteyB

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Quote:

Originally Posted by Bucking Bar

Worse, because of the way NWA had structured their risk management program, Delta's program took the losses from Colgan 3407. You can almost hear the excitement as underwriters got a much larger Delta account followed by the "oh crud" (cleaned up for APC) when they learned their account results got destroyed by what came with the acquisition.

I'm not saying this is a result of Colgan's accident, but knowing how upset the risk management side of the business were, it would not surprise me.

Only the hull insurance. Liability insurance was held in Europe.

04-25-2012 | 08:54 AM

#27

Vertisch

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From: Catching breathe

Quote:

Originally Posted by Mesabah

Yeah, this motion will be rejected because it would cause Chapter 7. As I've said before, Delta bankrupted us by not paying us for the merger costs. This is because Colgan was integrated in, and Delta was not going to pay for any of that.

Now Delta sees an opportunity here for us and it is not related to parking 200's; The question is, what is that plan? My guess would be it has something to do with Comair.

I know Comair is "inhouse" but why would Delta hurt the lower cost carrier to help the higher cost carrier? We all know that Comair is downsizing because they became too expensive to operate...

04-25-2012 | 09:12 AM

#28

tom14cat14

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From: 320

Quote:

Originally Posted by Sink r8

Are the parties objecting to the motion creditors, or shareholders? Or is a shareholder a creditor under the law, somehow?

A shareholder is a creditor.

04-25-2012 | 09:29 AM

#29

TheTransporter

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Quote:

Originally Posted by Vertisch

I know Comair is "inhouse" but why would Delta hurt the lower cost carrier to help the higher cost carrier? We all know that Comair is downsizing because they became too expensive to operate...

Comair got downsized by Delta, so that Delta could diversify its feed. When Comair went on strike, Delta learned that putting all of its eggs in one basket could be costly. The unit cost for Comair has gone up as they have shrank. It is all about diversifying the feed and taking away bargaining power.