RAH files for Chapter 11 bankruptcy

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03-04-2016 | 07:49 AM

#371

SmitteyB

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Quote:

Originally Posted by GoHomeLeg

Colgan had a similar clause. When the Q400s went to Republic the were "returned" first. This separated the pilots from the airplanes. Unless the group is tied to a serial number there are ways around that kind of clause.

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This is correct and the airplanes changed hands through the courts and legally transferred to RAH in the end.

Pinnacle returned them to EDC (Export Development Canada)

EDC then leased them to United

United then leased them to RAH

RAH now leasing them to FlyBE

03-04-2016 | 11:33 PM

#372

SandyDobbs1

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BK process is on the fast track
.

Court order granted, dumping/abandon 7 Embraer 145, selling GE engine, dumping/abandon rolls Royce engine

03-05-2016 | 04:08 AM

#373

Rahlifer

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Quote:

Originally Posted by SandyDobbs1

BK process is on the fast track
.

Court order granted, dumping/abandon 7 Embraer 145, selling GE engine, dumping/abandon rolls Royce engine

That's it? We've got close to 50 aircraft gathering dust and they only dumped 7? All this hullabaloo to save a couple hundred bucks.

03-05-2016 | 04:24 AM

#374

gojo

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Quote:

Originally Posted by Rahlifer

That's it? We've got close to 50 aircraft gathering dust and they only dumped 7? All this hullabaloo to save a couple hundred bucks.

H$ll ya, fast track alright

03-05-2016 | 05:57 AM

#375

FlameNSky

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Quote:

Originally Posted by Rahlifer

That's it? We've got close to 50 aircraft gathering dust and they only dumped 7? All this hullabaloo to save a couple hundred bucks.

Do you really believe that is it? Tip of the iceberg.

03-05-2016 | 06:03 AM

#376

SandyDobbs1

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Quote:

Originally Posted by Rahlifer

That's it? We've got close to 50 aircraft gathering dust and they only dumped 7? All this hullabaloo to save a couple hundred bucks.

This current court order is only for 7 aircraft 2 engines that involve Citibank.
This order alone will save RAH 23 million over 5 years

03-05-2016 | 06:26 AM

#377

Rahlifer

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Quote:

Originally Posted by SandyDobbs1

This current court order is only for 7 aircraft 2 engines that involve Citibank.
This order alone will save RAH 23 million over 5 years

Cool. So we've got BBs leadership bonus covered.

03-05-2016 | 06:26 AM

#378

SandyDobbs1

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Quote:

Originally Posted by FEtoFO

What a sham! They will get relieve from the major stakeholders, and survive this, but long term they are toast! Maybe they get acquired out of Ch11 by American.

I don't think Delta is going to be on board(no pun intended) They are the only major who has NOT signed up to be on the creditor committee. which could mean they are walking when their contract gets voided by the Judge

03-05-2016 | 06:36 AM

#379

airbus300

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From: Capt

An article from the street dot com.

Republic put Frontier on the block in 2011, and in October 2013 finally inked a deal to sell the unit to Indigo Partners for $36 million in cash and about $109 million in transferred debt. Notably, Republic was unable to drop a $3 billion order for new planes made with Frontier in mind into the deal, and now will likely drop that order as part of its restructuring.

03-05-2016 | 06:47 AM

#380

Loon

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From: 737-Right

Quote:

Originally Posted by SandyDobbs1

This current court order is only for 7 aircraft 2 engines that involve Citibank.
This order alone will save RAH 23 million over 5 years

This is the kinda stuff that we RAH pilots wanna hear.
Rather than slicing up the cba, they are going after the bank/lessor details. This is what BB promised and i commend him if he sticks to his guns.
I'm on my way out the door soon, but i have many friends and colleagues that i want to see not harmed by this (basically ALL my RAH brethren).
So please folks, if there is good news, let's not rain on the parade. RAH employees need ALL the moral support that they can get!