Objection 2 Delta's DIP financing 4 Pinnacle
04-25-2012 | 10:13 AM
#32
Can't abide NAI
Joined: Jun 2007
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From: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
The program goes out via a treaty share arrangement to various underwriters throughout the World. None the less, the loss hit Delta's account not too long after Comair 5191.
Underwriters for Delta are unhappy with their experiences involving Delta's outsourced business.
Underwriters for Delta are unhappy with their experiences involving Delta's outsourced business.
04-25-2012 | 10:30 AM
#33
Gets Weekends Off
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From: Taco Rocket Operator
This shareholder objection was filed with the bankruptcy court last week. Hearing is tomorrow (April 25) at 945am in NYC. Things could get VERY interesting at Pinnacle if this objection is upheld. I'm surprised that there has been no discussion of this on here...
http://dm.epiq11.com/PinnacleAirline...cument/1734794
http://dm.epiq11.com/PinnacleAirline...cument/1734794
Pinnacle DIP hearing delayed; CEO steps down | LeveragedLoan.com
04-25-2012 | 10:50 AM
#34
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From: A320 FO
Looks like the hearing has been delayed until May 19 to allow the creditors committee to prepare a response:
Pinnacle DIP hearing delayed; CEO steps down | LeveragedLoan.com
Pinnacle DIP hearing delayed; CEO steps down | LeveragedLoan.com
04-25-2012 | 11:04 AM
#35
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From: CFI
I would find it very hard to believe a bankruptcy judge would dismiss Delta's DIP knowing it would likely mean Chapter 7 for Pinnacle. Like it or not, federal judges make political rulings all of the time. Just look at what happened to GM bond holders in late 2008 and 2009. Their rights were evicerated by federal judges. Chapter 7 would not only be a disaster for Pinnacle, but it would also hamper Delta's route structure greatly. I just can't see it happening even though I agree Delta has positioned itself ahead of other creditors. Who knows though. We live in unusual times.
04-25-2012 | 12:29 PM
#37
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From: CFI
It would be an option, but a new financing deal could also be reached by those who are owed money.
04-25-2012 | 12:44 PM
#38
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Doesn't Delta own the whole fleet of Mesaba and Pinnacle CRJs anyway? If I remember correctly, Northwest always owned the aircraft that it's regionals flew.
If this is still the case, then it would be easy for Delta to transfer those aircraft and associated flying to anyone else. Just as they did with Comair.
If this is still the case, then it would be easy for Delta to transfer those aircraft and associated flying to anyone else. Just as they did with Comair.
04-25-2012 | 01:15 PM
#39
Gets Off to Weekends
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From: A320 FO
Doesn't Delta own the whole fleet of Mesaba and Pinnacle CRJs anyway? If I remember correctly, Northwest always owned the aircraft that it's regionals flew.
If this is still the case, then it would be easy for Delta to transfer those aircraft and associated flying to anyone else. Just as they did with Comair.
If this is still the case, then it would be easy for Delta to transfer those aircraft and associated flying to anyone else. Just as they did with Comair.
04-25-2012 | 01:17 PM
#40
Roll’n Thunder
Joined: Oct 2009
Posts: 5,150
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From: Pilot
Doesn't Delta own the whole fleet of Mesaba and Pinnacle CRJs anyway? If I remember correctly, Northwest always owned the aircraft that it's regionals flew.
If this is still the case, then it would be easy for Delta to transfer those aircraft and associated flying to anyone else. Just as they did with Comair.
If this is still the case, then it would be easy for Delta to transfer those aircraft and associated flying to anyone else. Just as they did with Comair.
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