Mesa Air Group Chapter 11 Info
02-09-2011, 05:49 AM
#1471
On Reserve
Joined APC: Apr 2007
Posts: 14
Mesa seniority with Piedmont Air filed ?
Can this be the reason for the delayed recall of the CRJ pilots and a possible intergration with MESA and Piedmont Airlines? Any one has more details on this new devlopment please advise.
(MSA) Search Dockets
(MSA) Search Dockets
02-09-2011, 07:39 AM
#1472
Time to make the donuts!
Joined APC: Dec 2005
Position: B737 FO
Posts: 303
Can this be the reason for the delayed recall of the CRJ pilots and a possible intergration with MESA and Piedmont Airlines? Any one has more details on this new devlopment please advise.
(MSA) Search Dockets
(MSA) Search Dockets
02-09-2011, 07:41 AM
#1473
On Reserve
Joined APC: May 2007
Position: E-190 FO
Posts: 23
The link that comes up is for a totally different case. I am guessing though this pertains to the merger of Mesa ground ops with Piedmont ground ops. I know a lot of the senior agents are up in arms over the fact they lose all their seniority when the merger (buy out) of the ground ops happens in April. Plus a few of the agents actually have to take a pay cut because believe it or not Piedmont pays less than Mesa did.
02-09-2011, 08:15 AM
#1474
On Reserve
Joined APC: Apr 2007
Posts: 14
From what information is available, in order for MAG to exit Chap. 11 they must satisfy an administrative claim to the the tune of 40 million. Until that has been paid in full, in cash MAG will basically linger in Post plan approval purgatory. Once this claim is satisfied, the court will assign an effective date for the plan, which will basically be MAGs exit date from BK.
Lately there hasn't been much public information regarding the admin claim or attempts to resolve it.
Lately there hasn't been much public information regarding the admin claim or attempts to resolve it.
10-10018-mg Mesa Air Group, Inc. Ch. 11
(CC: Doc# 1095) Evidentiary Hearing RE: Motion for Allowance and Payment of Administrative Expense Pursuant to Sections 503(b) and 507(a)(2) of the Bankruptcy Code filed by Harvey A. Strickon on behalf of Engine Lease Finance Corporation.
Adjourned Reset for 03/08/11 at 10:00 am
In other News....
Southern District of New York attached in error, the document for docket# 1526 and is in the process of being updated!
02-26-2011, 07:42 PM
#1475
Line Holder
Joined APC: Jun 2010
Position: CRJ Captain
Posts: 96
02-27-2011, 07:28 AM
#1476
Gets Weekends Off
Joined APC: Feb 2007
Position: X
Posts: 343
02-27-2011, 11:16 AM
#1477
Gets Weekends Off
Joined APC: Nov 2006
Position: Body at sea level; heart at 70,000+
Posts: 1,349
"Despite the challenges it faces, Mesa Air maintains a strong balance sheet. From January 2010 to December, it increased its cash on hand to just over $43 million . . . . Also at its disposal is a $15 million investment that Nilchii, a Mesa subsidiary, made in Spirit Airlines in 2006. If Spirit's initial public offering is approved by the Security and Exchange Commission, that investment now could be worth between $61.4 million and $95.6 million, court documents indicate. "
When Mesa gets up to $138 million "cash on hand" they will start buying other regionals. Pinnacle only paid $62 million for Mesaba. Who is next up for sale ?
When Mesa gets up to $138 million "cash on hand" they will start buying other regionals. Pinnacle only paid $62 million for Mesaba. Who is next up for sale ?
02-27-2011, 06:09 PM
#1478
Line Holder
Joined APC: Sep 2010
Position: right seat
Posts: 41
"The company emerges from bankruptcy as a private firm with a new board of directors, six of whom were chosen by the creditor's committee"
Is this means J.O. days are counted as a CEO?I hope the creditor's committee kick J.O. since new board of directors are or will be in placed. Maybe winglet might have a better perception about this.
driver
Is this means J.O. days are counted as a CEO?I hope the creditor's committee kick J.O. since new board of directors are or will be in placed. Maybe winglet might have a better perception about this.
driver
02-27-2011, 06:12 PM
#1479
Line Holder
Joined APC: Sep 2010
Position: right seat
Posts: 41
"Despite the challenges it faces, Mesa Air maintains a strong balance sheet. From January 2010 to December, it increased its cash on hand to just over $43 million . . . . Also at its disposal is a $15 million investment that Nilchii, a Mesa subsidiary, made in Spirit Airlines in 2006. If Spirit's initial public offering is approved by the Security and Exchange Commission, that investment now could be worth between $61.4 million and $95.6 million, court documents indicate. "
When Mesa gets up to $138 million "cash on hand" they will start buying other regionals. Pinnacle only paid $62 million for Mesaba. Who is next up for sale ?
Maybe, it won't surprise me if they end up buying eagle or PSA/PDT.
02-27-2011, 07:01 PM
#1480
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,033
"The company emerges from bankruptcy as a private firm with a new board of directors, six of whom were chosen by the creditor's committee"
Is this means J.O. days are counted as a CEO?I hope the creditor's committee kick J.O. since new board of directors are or will be in placed. Maybe winglet might have a better perception about this.
driver
Is this means J.O. days are counted as a CEO?I hope the creditor's committee kick J.O. since new board of directors are or will be in placed. Maybe winglet might have a better perception about this.
driver
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