Mesa Air Group Chapter 11 Info
09-18-2010, 10:28 AM
#1222
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09-18-2010, 10:51 AM
#1223
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Hmmmm .... and this is the POR that Mesa needed to ask to have a three month extension to file. Honestly I was looking for quite a bit more drama. Ya know --- something with a least something interesting in it. I think that between you and me, plus a twelve pack, we could hammer this out while sitting around the pool. Hey -- maybe that's what they did !!
09-18-2010, 11:07 AM
#1225
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Joined APC: Feb 2007
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Hmmmm .... and this is the POR that Mesa needed to ask to have a three month extension to file. Honestly I was looking for quite a bit more drama. Ya know --- something with a least something interesting in it. I think that between you and me, plus a twelve pack, we could hammer this out while sitting around the pool. Hey -- maybe that's what they did !!
US Airways gets $5.5 million in notes and 1 million new shares (10%) (estimated @ $2.4 - $21.8 million).
Tenth Amendment to US Airways Code-Share Agreement being finalized.
09-18-2010, 12:00 PM
#1226
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Joined APC: Aug 2010
Position: CRJ / DHC 8
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How 'bout this stuff
------ " the minimum amount of New Common Stock to be issued to Jonathan G. Ornstein and Michael J. Lotz shall be 3.75% and 2.25%, respectively.
and this ---- " The terms and conditions of the notes and the Management Note Agreement shall be substantially similar to the terms and conditions of the New 8% Notes, New 8% Notes Indenture and U.S. Airways Note, except that the Management Notes shall be subordinated to the New 8% Notes and U.S. Airways Note. At least $2 million and $1.5 million of the Management Notes shall be allocated to Jonathan G. Ornstein and Michael J. Lotz, respectively.
These are "incentives" to retain the outstanding talent of MAG's top two guys. With the talent displayed over the last four years by these two guys, and their effective leadership at getting MAG into its present dilemma, maybe some NEW talent would be welcomed.
------ " the minimum amount of New Common Stock to be issued to Jonathan G. Ornstein and Michael J. Lotz shall be 3.75% and 2.25%, respectively.
and this ---- " The terms and conditions of the notes and the Management Note Agreement shall be substantially similar to the terms and conditions of the New 8% Notes, New 8% Notes Indenture and U.S. Airways Note, except that the Management Notes shall be subordinated to the New 8% Notes and U.S. Airways Note. At least $2 million and $1.5 million of the Management Notes shall be allocated to Jonathan G. Ornstein and Michael J. Lotz, respectively.
These are "incentives" to retain the outstanding talent of MAG's top two guys. With the talent displayed over the last four years by these two guys, and their effective leadership at getting MAG into its present dilemma, maybe some NEW talent would be welcomed.
09-18-2010, 07:08 PM
#1227
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Joined APC: Mar 2007
Position: XJT furloughed due to non-ALPA undercutting
Posts: 376
Yes! Just announced via youtube:
YouTube - Mesa Air
I'm so happy for JO. 900 launch customer, regional airline of the year 2005, then.... bankruptcy, halved fleet. What a great [outsourced] company to work for!
"What made us successful is that we were willing to do things differently," Ornstein says.
Regional Airline of the Year: Mesa Air Group | ATW Online
YouTube - Mesa Air
I'm so happy for JO. 900 launch customer, regional airline of the year 2005, then.... bankruptcy, halved fleet. What a great [outsourced] company to work for!
"What made us successful is that we were willing to do things differently," Ornstein says.
Regional Airline of the Year: Mesa Air Group | ATW Online
09-20-2010, 10:28 AM
#1228
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Posts: 467
Disclosure Statement Hearing
Update:
The "Hearing to Consider Approval of Debtors' Proposed Disclosure Statement" is scheduled for Oct. 26th at 10:00 a.m.
Responses, objections and proposed modifications must be received by Oct. 18th at 4:00 p.m.
winglet
The "Hearing to Consider Approval of Debtors' Proposed Disclosure Statement" is scheduled for Oct. 26th at 10:00 a.m.
Responses, objections and proposed modifications must be received by Oct. 18th at 4:00 p.m.
winglet
09-20-2010, 03:24 PM
#1230
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Posts: 467
Mesa Air Bankruptcy Plan Gives US Airways 10%
Update:
Bloomberg Businessweek Article about the MAG POR:
Mesa Air Bankruptcy Plan Gives US Airways 10% Stake
winglet
Bloomberg Businessweek Article about the MAG POR:
Mesa Air Bankruptcy Plan Gives US Airways 10% Stake
winglet
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