Mesa Air Group Chapter 11 Info
01-27-2010, 08:53 AM
#222
Gets Weekends Off
Joined APC: Apr 2007
Position: NOYDB
Posts: 876
Mesa Air Group received relief today on providing financial reports to the court until the later of March 5th or five days prior to the Section 341 Meeting. This is one of the only meetings MAG will have to personally attend during the proceedings. This is the meeting where MAG will have to "fairly and honestly" represent their assets, income and debts under oath before the creditors and the trustee. This information will be vital in helping all parties to the bankruptcy determine the viability of MAG. (Remember those "skeletons" I was talking about? 
MAG better come clean before the courts or the trustee and creditors may not be inclined to restructure).
winglet
MAG better come clean before the courts or the trustee and creditors may not be inclined to restructure).winglet
01-27-2010, 09:18 AM
#223
Gets Weekends Off
Joined APC: Feb 2008
Posts: 161
The Duke,
Thanks, I was beginning to think I was wasting my time. The thing that got me started on this was all the misinformation and wild rumors out there. I enjoy "mythbusting". I like to deal in facts. I've learned alot myself by posting. This forum can be a good thing if you ignore all the trolls and flame bait.
As for Mesa, a lot of things are going to transpire over the next couple of months. I'm going to try and stay informed. One thing is certain: If Mesa survives this, then it will be a very different company and anything goes after that. At this time all options remain on the table.
Take Care,
winglet
Thanks, I was beginning to think I was wasting my time. The thing that got me started on this was all the misinformation and wild rumors out there. I enjoy "mythbusting". I like to deal in facts. I've learned alot myself by posting. This forum can be a good thing if you ignore all the trolls and flame bait.
As for Mesa, a lot of things are going to transpire over the next couple of months. I'm going to try and stay informed. One thing is certain: If Mesa survives this, then it will be a very different company and anything goes after that. At this time all options remain on the table.
Take Care,
winglet
01-27-2010, 10:06 AM
#224
Gets Weekends Off
Joined APC: Nov 2005
Position: MD80
Posts: 1,111
Yea forward thinking. Like getting more airplanes with contracts that expire way before the airplane leases. Starting ventures that never worked. All for upping the stock. You really really have to try to bankrupt a regional airline since all income is guaranteed as long as you perform right and the partner doesn't liquidate.
01-27-2010, 11:05 AM
#226
Gets Weekends Off
Joined APC: Sep 2009
Position: N/A
Posts: 637
Mesa Air Group received relief today on providing financial reports to the court until the later of March 5th or five days prior to the Section 341 Meeting. This is one of the only meetings MAG will have to personally attend during the proceedings. This is the meeting where MAG will have to "fairly and honestly" represent their assets, income and debts under oath before the creditors and the trustee. This information will be vital in helping all parties to the bankruptcy determine the viability of MAG. (Remember those "skeletons" I was talking about? MAG better come clean before the courts or the trustee and creditors may not be inclined to restructure).
winglet
MAG better come clean before the courts or the trustee and creditors may not be inclined to restructure).winglet
01-27-2010, 11:27 AM
#227
Gets Weekends Off
Joined APC: Mar 2006
Position: CRJ Captain
Posts: 1,406
Mesa filed a motion today to "reject, abandon, transfer title, or surrender and return excess equipment"
Hearing scheduled Feb. 9th.
The exhibits include:
Excess Leased Equipment to be Rejected Immediatley
2 GE CF34-3B1
1 GE CF34-8C1
1 RR AE3007
1 GE CF34-8C5
Excess Leased Equipment to be Rejected on Date to be Determined, Subject to Further Notice
16 DHC 8-202
46 CL-600-2B19
12 CL-600-2C10
25 CL-600-2D24
35 ERJ 145
Owned Equipment that May be Subsequently Abandoned
2 CL-600-2B19
8 CL-600-2C10
13 CL-600-2D24
Key words:
"rejected immediately"
"subject to further notice"
"may be subsequently abandoned"
Translation:
Mesa Management's message to Creditors: "You'll take some of these off our backs or we'll dump 'em all on ya!"
winglet
Hearing scheduled Feb. 9th.
The exhibits include:
Excess Leased Equipment to be Rejected Immediatley
2 GE CF34-3B1
1 GE CF34-8C1
1 RR AE3007
1 GE CF34-8C5
Excess Leased Equipment to be Rejected on Date to be Determined, Subject to Further Notice
16 DHC 8-202
46 CL-600-2B19
12 CL-600-2C10
25 CL-600-2D24
35 ERJ 145
Owned Equipment that May be Subsequently Abandoned
2 CL-600-2B19
8 CL-600-2C10
13 CL-600-2D24
Key words:
"rejected immediately"
"subject to further notice"
"may be subsequently abandoned"
Translation:
Mesa Management's message to Creditors: "You'll take some of these off our backs or we'll dump 'em all on ya!"
winglet
That is a lot of airplanes, what would they even have left?
01-27-2010, 11:31 AM
#228
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,041
That's pretty much everything. They are trying to get advance permission to dump anything and everything, so they can hold that over the lender's heads. OJ wants to sit at the negotiating table with a grenade in each hand, no pins.
Reality is if the dump the 700 and 900's they are going directly to Ch.7.
Reality is if the dump the 700 and 900's they are going directly to Ch.7.
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