I'm not interested in any Skybus bashing. I'm just curious if Skybus missed any of thier payrolls?

They did miss on the options being worth anything.

don't know the answer to your question, but bloomberg reported that the BR filing claimed $100 - 500M in assets and $50 - 100M in liabilities. (i thought they weren't filing until Mon, but that's what bloomberg reported). even boyd admitted that it appeared they were calling it quits in time to preserve capital for the creditors (which actually sounds like something diff would have done - but of course he left 2 weeks prior).

obviously, a lot of times employees get left out to dry in these things and don't get paid for work already done (as if losing your job isn't bad enough) - but i've got my fingers crossed for them in this case based on what bloomberg said about the filing.

Employees come first in bankruptcy, followed by secured creditors and then unsecured creditors. They are telling ticket holders to go through their credit card company for refunds.

Investers thought they had the well - but they only get the shaft.

We got paid.. we're hoping for a bit more of course.

Most important is the founder who was squeezed out by the board of directors for being too friendly to labor, and not "airline executive" enough is trying (God bless his heart) to revive the company and jobs and make it right.. I think the economy and oil prices are against him, but had he been at the helm from the beginning, it may have turned out differently.

For the record, he had originally planned to pay 33% more and have a pay scale, but the recycled CAL/EAL guy and Ken Gile (WN) argued to lower it to the level it was at... Go figure!

Navajo,

Are you sure employees are first in BK ? I'm asking for two reasons. When TransMeridian liquidated (not BK), the secured creditors and then unsecured creditors were in line before us. Secondly, I still have not received my last check from TMA, and that was from Oct 05'.

Thanks in advance for any follow-up info, much appreciated.

FF

I too have read that employees are 1st in BK filing before creditors then last investors.. TMA didn't file BK which could be why you weren't paid... oddly that would mean you have a claim against them (who even them is)..

Actually, the BK lawyers come first as an "administrative claim", the last 90 days wages are a "priority claim" and come before secured and unsecured claims. After my third airline BK, I think there should be BK law questions on the ATP written to get you ready for your airline career.

That's a good one!

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