So, because the majority of our fleet are bank owned, is this more harmful than helpful considering if they were paid off, an acquiring airline could buy the planes only and tell the pilots to kick rocks?

What I am trying to understand is how desperately I should be trying to retain my recall rights while simultaneously trying to get hired on elsewhere, because, as I understand it, most job offers elsewhere are usually conditional upon giving up recall rights at your previous carrier.. Now I also understand that the value of having recall rights varies wildly depending if it's someone like Frontier vs. a legacy with better prospects and continued growth.

 

So why not just file CH11 again ( A real one) , get rid of the Debt and merge with F9... Seems like the only real way forward, no?

 

Get rid of the debt that the bondholders/owners own? How do you just get “rid of the debt?” You can reorganize it, IF the creditors are wanting to and a judge agrees, but it’s not as simple as just “getting rid of the debt”



Like the Seinfeld episode, “it’s a write off…they just write it off”.

 

Absolute Gold and about as far as my financial literacy goes, lol.

 

Schitt’s Creek also did this well

The write-off people!!

 

Yea, the bondholders/creditors aren't going to just be like "yea, don't worry about it" on over $1BILLION in money owed.

 

You can't just wipe out bondholders like you can stockholders. Now I think the current equity holders are driving this towards another bankruptcy. I don't see the upside. The best case is a pre-packaged Chapter 11. Another airline provides DIP financing, and bondholders receive 20-30 cents on the dollar, but these are financed through new bonds.

 

I believe that's Ch 7 bankruptcy, when you can't pay people back.

 

I completely agree that United has zero interest in us. To your other points.. didn’t we have 2 airlines in the past 3 years make offers to buy us ? One of them offering a whopping 3.1 billion knowing full well the cost of new seats, paint, integration headaches as well as our debt situation? Clearly these two airlines, knowing the headaches saw enough value to even get into a bidding war. Who’s to say someone else doesn’t see the same now ?

all I’m saying is if someone sees enough long term value for the right price they’ll make a move . Pilots are less needed now than 3 years ago, and Boeing just pumped out more planes than they have in 6 years.. so the dynamics have changed certainly. But if you offered me a totally dilapidated house in a sought after neighborhood at a bargain basement price .. no matter the headaches I face .. if I see long term value after the renovations.. ill snag it.

 

Frankly speaking; if any airline offers you a job when on furlough, you take it if it means resigning your recall rights. And yes, as explained to me by the NC, there really isn’t a likely scenario where someone comes in, wants NKs leased planes, the lease holder (bank) says ok, and the pilots go with it. Most likely the planes for back to the bank and then overseas. It’s why they haven’t proceeded with any scope fragmentation additions in these furlough MOUs, it isn’t worth the paper it’s written on.