Mesa Air Group Chapter 11 Info
03-02-2010, 08:16 PM
#522
Go Knights Go
Joined APC: Apr 2008
Position: OCC/Dispatch
Posts: 261
Releasemaster,
An agreement between MAG and the creditors of the 36 ERJ's has been made extending the 60 day stay preventing their reposession(Bankruptcy Code 1110b). The agreement is under seal so we won't see the details. These agreements favor either the debtor or the creditor depending on the used aircraft market, hint, hint.
winglet
An agreement between MAG and the creditors of the 36 ERJ's has been made extending the 60 day stay preventing their reposession(Bankruptcy Code 1110b). The agreement is under seal so we won't see the details. These agreements favor either the debtor or the creditor depending on the used aircraft market, hint, hint.
winglet
03-03-2010, 12:33 AM
#523
Go Knights Go
Joined APC: Apr 2008
Position: OCC/Dispatch
Posts: 261
If so why would Mesa request an emergancy approval hearing with little window for objections when they just inked a 60 day stay with the lessor on ERJs?
03-03-2010, 04:36 AM
#524
Gets Weekends Off
Thread Starter
Joined APC: Jun 2008
Posts: 467
The used ERJ market is pretty dismal and the creditors are willing to grant an extension. The agreement is probably determinant on the outcome of the Delta litigation.
winglet
03-03-2010, 04:50 AM
#525
Gets Weekends Off
Thread Starter
Joined APC: Jun 2008
Posts: 467
.
03-03-2010, 05:32 AM
#526
Gets Weekends Off
Joined APC: Dec 2007
Position: A320 FO
Posts: 1,454
03-03-2010, 06:47 AM
#527
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,034
They don't leave the creditor hanging for very long, otherwise HE would end up BK too. BK get's you out of your obligations, but it does not mean you get to keep the things you can't or won't pay for! Otherwise I'd file BK tomorrow so I could stop making mortgage payments but keep my house!
03-04-2010, 03:48 PM
#530
Gets Weekends Off
Joined APC: Dec 2007
Position: A320 FO
Posts: 1,454
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