horusfalcon

were the seats all skeevy and ripped? did it shake alot?

Releasemaster

Sounds like all of YV's UA 200s.

Update: A motion has been filed seeking an emergancy hearing on Mesa entering into a new letter of credit with a bank. Current LoCs Mesa has have expired or will on 12FEB10. The motion states the credit is needed to continue day to day operations and employee compensation. Bank is agreeing to motion but it must come before the court for approval.

Right now numerous muncipalities have filed claims againsit Mesa for taxes not paid. Totals in the low millons with city of Denver claiming over a million dollars and state of Arizona claiming over two mil. These are the two largest tax claims.

Finally several lessors of two DH8B have filed objections to returns due to not being given enough formal notice and Mesa not upholding to stipulations on planes condition upon return.

Jetrecruiter

The music is playing let the dance begin!!! No way they can get arround taxes. Those will have to be paid or settled before the rest of the creditors get their peice of the pie..What bank is willing to give Mesa money??? Did they take TARP money too ...???

flycrj200

I'm sure Mesa has the money to pay the taxes.

CrippleHawk

I hear you those planes were a curse. They always were falling apart. No matter ho many times we fix them. Somthing else will break

flycrj200

Does anyone know anything about the Status Conference scheduled for today regarding the Delta code-share agreement?

winglet

Releasemaster,

Believe me, I'm not trying to defend MAG but this is pretty standard during a bankruptcy proceeding. In fact all of MAG's banks have filed similar objections. It is basically a fight over who controls the letters of credit, esp. who can draw money and when. The banks want to modify the LOC's so that there are restrictions on MAG's withdrawals and MAG wants to control the Creditor's withdrawals. They are both attempting to protect against the unrestricted access to cash that MAG had previous to bankruptcy. If a revenue stream exists, then the Debtor usually wins control over this issue. MAG does has revenue with it's continuing contracts so unlike some insolvent companies in bankuptcy, there is a good chance the Judge will side with MAG. This is covered in US Code: Title 11 § 547. We'll see the results shortly...(Hearing scheduled Feb. 4, 2010)

The priority taxes and claims will have to paid eventually or stiff penalties will ensue. There will be more claims before this is all over but this is the reason for MAG declaring bankruptcy in the first place. Even though they have to pay the priority claims, the bankruptcy buys them some wiggle room. In fact now that I think about it, I should put in a couple of claims myself....

Mesa just settled with Raytheon Credit on the 20 Beechcraft 1900D's. This releives MAG of $500,000/month in leases and over $30,000,000 in debt. I suspect the Dash-8's will have a similar outcome.

winglet

rickair7777

There tax issues are complicated...

You cannot automatically discharge tax debts. It depends on the type of taxes, how far back, and the type of bankruptcy.

Also if there are any "irregularities" from the past, BK will not help you at all.

winglet

rickair7777,

I agree. This falls under priority claims and priority taxes. These are the claims that the court determines take priority over the unsecured creditor's claims. The court decides on which claims get paid first. These must be paid with interest. If there are any shenanigans the Trustee will not hesitate to recommend Chapter 7.

This won's stop MAG from delay tactics though. MAG follows the "everything is negotiable" school of thought .

winglet

IrishTiger

Yeah it was pretty tore up. Here's a pic of it from last year.



Yeah most were pretty bad. But this one was by FAR the worst. The next ones I found to be the worst were the N271XX series. The best I enjoyed working with were the N759XX series.


Yeah I had 570 for 3.5 days and we wrote up 21 different things on it. It was the single worst trip of my life.