F9 secures DIP financing.
07-26-2008, 04:06 AM
#11
Gets Weekends Off
Joined APC: Apr 2007
Position: F/O- G-V/550
Posts: 1,163
Are serious????
Why be excited? how about the airline just got a few more months worth of oxygen. $75 mil won't save F9, but it could keep things moving until the busy holiday season.
I'll tell you what, if there's an airline I want see survive this mess, Frontier would be it.
Why be excited? how about the airline just got a few more months worth of oxygen. $75 mil won't save F9, but it could keep things moving until the busy holiday season.
I'll tell you what, if there's an airline I want see survive this mess, Frontier would be it.
07-26-2008, 07:58 AM
#13
Gets Weekends Off
Joined APC: Jun 2006
Position: B737/Capt
Posts: 998
So SWA competing with Frontier is good or bad? Frankly this poor-poor pitiful me argument is getting old. I don't wish anyone to lose their job but perhaps Frontier is the reason UAL is having trouble now? Competition is not going to go away and you can blame someone else for your troubles but then you don't fix your own house.The DINK couple down the street has four times the debt I have and their house is nicer (with new cars too). Does that make their "product" superior.
Maybe on the outside but deep down they are one paycheck (and one furlough) away from financial ruin. The airline business is no different and if the airlines don't fix their business model don't blame little 'ol SWA
.
07-26-2008, 10:48 AM
#17
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Joined APC: Feb 2005
Posts: 500
"Perseus has also agreed to serve as equity sponsor for Frontier's plan of reorganization, allowing Perseus to purchase 79.9% of the equity in the reorganized company for $100 million."
Does anyone else find that concerning? Does that mean Perseus will essentially own or control Frontier when the dust settles? Can anyone weigh in on that?
S.B.
Does anyone else find that concerning? Does that mean Perseus will essentially own or control Frontier when the dust settles? Can anyone weigh in on that?
S.B.
07-26-2008, 11:02 AM
#18
Gets Weekends Off
Joined APC: Aug 2006
Posts: 1,874
"Perseus has also agreed to serve as equity sponsor for Frontier's plan of reorganization, allowing Perseus to purchase 79.9% of the equity in the reorganized company for $100 million."
Does anyone else find that concerning? Does that mean Perseus will essentially own or control Frontier when the dust settles? Can anyone weigh in on that?
S.B.
Does anyone else find that concerning? Does that mean Perseus will essentially own or control Frontier when the dust settles? Can anyone weigh in on that?
S.B.
Ummm - yeah that is what that means.......
07-26-2008, 11:40 AM
#19
Gets Weekends Off
Joined APC: Jan 2006
Posts: 1,610
It also means the company is only worth approximately $125 million dollars (nearly half of what it was worth prior to entering bankruptcy). I think Frontier is a sinking ship. Those paycuts the pilots took will not help it out one bit. All it does is mean these pilots will have less money when Frontier does go out of business. It is very sad.
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