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Swift Air/iAero. What you should know

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Old 03-13-2024, 08:14 AM
  #381  
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JC gets his airline back.

https://cases.ra.kroll.com/aerotech/Home-DocketInfo

#508
Notice of Filing Executed Version of Stalking Horse APA, Filed by Debtor AeroTech Miami Inc. (Re: 501 Miscellaneous Motion)
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Old 03-13-2024, 08:40 AM
  #382  
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what does any of this even mean
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Old 03-13-2024, 10:19 AM
  #383  
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So Eastern bought them out eh?

F138-
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Old 03-13-2024, 11:47 AM
  #384  
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Honestly didn't expect him to come back... Killer move though. Sell your airline, stay on as management and run it into the ground, get booted, let it go bankrupt, buy it back for legit pennies on the dollar.
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Old 03-13-2024, 11:55 AM
  #385  
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Originally Posted by Highflyer35
what does any of this even mean
Eastern made a bid - and JC the former CEO of Swift who got ousted last year appears to be heading it up

Stalking Horse means it is a bid made before auction starts - sets a baseline for bidding to go from there... That is if there are any other bidders.

Their offer is to buy the assets in exchange for a $70M note to the senior lender. Anyone who bids higher has to pay them a $2M breakup fee as well.
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Old 03-13-2024, 02:55 PM
  #386  
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So is this good news or bad news for those with CJOs / current pilots?
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Old 03-13-2024, 04:08 PM
  #387  
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Originally Posted by AGDP
So is this good news or bad news for those with CJOs / current pilots?
I'd tend to view the job offer as the bad news.
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Old 03-15-2024, 10:04 AM
  #388  
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Originally Posted by AGDP
So is this good news or bad news for those with CJOs / current pilots?
We are most likely on the streets in 2-4 weeks
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Old 03-15-2024, 12:01 PM
  #389  
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Update

Court is letting iAero proceed with Stalking Horse bid; but are allowing one of the main debtors to depose JC and requiring him to disclose his financial interests in the deal... I would LOVE to see that video.
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Old 03-15-2024, 03:16 PM
  #390  
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JC huh ?
No doubt they’ll be offered a pay cut to keep their jobs…..
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