Mesa Positioning for Chapter 11?

[alpine1989]

1) Mesa Reports 3Q Loss

2) Mesa to sell Kunpeng stake

3) Paul Foley named COO

4) Pinnacle to fly Freedom CRJ-900s for Delta

5) Shutuplic to Hawaii

6) Admin/Support layoffs

 

[XPOO]

God, I hope so.

 

[Skaff]

My fear is that they will go Ch 11, restructure, pilots will take further cuts, further lowering the bar, and giving them better ability to low ball. Bankruptcy could be bad for all of us, be careful what you wish for.

 

[BrownStreak]

Mesa Sucks!!!

 

[pdub20s]

1) Mesa Reports 3Q Loss

2) Mesa to sell Kunpeng stake

3) Paul Foley named COO

4) Pinnacle to fly Freedom CRJ-900s for Delta

5) Shutuplic to Hawaii

6) Admin/Support layoffs

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

 

[Broke in CVG]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

Wiggle room? Are you f***ing kidding me? Bond holders want CASH! They can't do a debt/equity swap because they have no equity - the stock is worthless and will be de-listing from the NASDAQ on Dec 15th too! Bond holders want CASH, not egg rolls, not spare parts, and certainly not JO's BS behind door #2.... CASH, CASH, CASH!

There is NO credit available. If a company had good credit, colateralizeable assets and positive cash flow they still couldn't get that much funding right now. Mesa has NONE of those. The credit markets are FROZEN while Banks and Financial Institutions figure out what kind of liabilities they actually have with these CDS (Credit Default Swaps) they have been selling for the past two years. There are currently an estimated $45 Trillion, yes Trillion, out there and no one really knows their value.

So, there is no wiggle room for Mesa. BK = Liquidation and sale of whatever assets they have.

MESA SUCKS!

 

[flyboyike]

I think Mesa's been positioning for Chapter 11 pretty much its entire existence, so nothing new there.

 

[dooork]

I think Mesa's been positioning for Chapter 11 pretty much its entire existence, so nothing new there.

yukyukyuk.DOOOOOOOoooook.

 

[OK Bud!]

My fear is that they will go Ch 11, restructure, pilots will take further cuts, further lowering the bar, and giving them better ability to low ball. Bankruptcy could be bad for all of us, be careful what you wish for.

Well, if Mesa goes into Chapter 11, Delta can void their contract without having to go to court. Also, if the rumors about United are true, then that gives them an out as well. Mesa is already the cheapest thing out there, and the majors are starting to realize that you get what you pay for.

 

[CX880]

as soon as they go bk they'll "loose" all of their contracts. Mesa sucks.

 

[spudskier]

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

You're trading $0.34 ($0.33 now) NOT because of the economy, but because that's what you're worth. Mesa was only $0.10 a share more a few months ago, nothing has changed since the drastic downturn. Mesa has been threatened with delisting and has yet to pull itself over $1.00/share which it must maintain for 6 months. This is a feat which XJT managed in only a month or two... Mesa has been this way for quite a while...

Don't like to see people lose jobs, but good luck...

 

[Soverytired]

My fear is that they will go Ch 11, restructure, pilots will take further cuts, further lowering the bar, and giving them better ability to low ball. Bankruptcy could be bad for all of us, be careful what you wish for.

Yes, because no pilot at any major and/or legacy carrier would ever "take further cuts, further lower the bar" by having a Ch 11 bk judge shove a new contract down their throats.

You're absolutely right . . . Ch 11 will make Mesa "leaner and meaner", and would ultimately hurt all other regional lift providers if they manage to find DIP financing to keep the thing afloat.

 

[Broke in CVG]

In order to make it out of Chapter 11 they have to secure DIP (Debtor In Possion) Financing.

Good luck trying to find financing now. Mesa's only real assets are it's spare parts inventory - which JO hawked this summer. All the planes are leased and they have no other tangible assets.

Mesa BK = Liquidation. Chapter 7 BK here we come!

Mesa Sucks!

 

[JonnyKnoxville]

Although it would be nice to eliminate pilot positions that place downward pressure on average regional jet wages, I think it is a huge mistake to assume another airline's success based on Mesa's failure. Airlines occasionally die, but not easily.

This all reminds me of Delta's success relying on US Airways failure that never happened.

 

[Soverytired]

Well, if Mesa goes into Chapter 11, Delta can void their contract without having to go to court. Also, if the rumors about United are true, then that gives them an out as well. Mesa is already the cheapest thing out there, and the majors are starting to realize that you get what you pay for.

Hahahahahahahah!

Coming on the heels of the announcement that American Airlines is considering "a la carte" pricing for their seats, I find this argument that "the majors" care about anything other than the bottom dollar hard to swallow.

Skybus took a great deal of scorn on this website because they followed the exact same model.

Cost containment is the only thing airlines care about. Period.

 

[rickair7777]

Well, if Mesa goes into Chapter 11, Delta can void their contract without having to go to court. Also, if the rumors about United are true, then that gives them an out as well. Mesa is already the cheapest thing out there, and the majors are starting to realize that you get what you pay for.

Any business in their right mind who lets a subcontract will have an escape clause to void the contract in the event the subcontractor files BK. Even UAL is smarter than that, to say nothing of DAL.

Bankruptcy will get you out of your debts and obligations...it does not automatically ensure in all cases that those with obligations to you have to honor them.

I think a MAG BK would be a fast-track to liquidation. Everybody would be happy to see them go...only their 900's would be missed by USA.

 

[lowlycfi]

Mesa has been threatened with delisting and has yet to pull itself over $1.00/share which it must maintain for 6 months. This is a feat which XJT managed in only a month or two...

XJT only did this through the reverse stock split. The value of the company isn't really any more than it was before.

 

[samballs]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

Are you serious! this all points to bk, Get over it you guys will not get a TA. I'm not surprised though you took a job at Mesa. Dumbass. been thru 2 BK's and this how it starts. If you guys get aTA then your in for a world of hurt, like I said though you won't.

 

[BigLebowski]

does mesa have the funds/assets to afford to go into chapter 11 or are they more likely going to go straight to chapter 7?

I'm no judge and no expert in finance but I was under the impression that to file for bankruptcy entailed a lot of mulah

 

[nerjdriver]

1) Mesa Reports 3Q Loss

2) Mesa to sell Kunpeng stake

3) Paul Foley named COO

4) Pinnacle to fly Freedom CRJ-900s for Delta

5) Shutuplic to Hawaii

6) Admin/Support layoffs

Nope. Ch 7. You have to have money to go into and come out of CH 11, Mesa does not. Buh bye.

 

[nerjdriver]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

34 cents due to the economy!!!!????!!!!! You MUST be trying to make a joke. It trades at 34 cents because the market doesn't value it any higher. Remember something is only worth what somebody is willing to pay for it. By that logic, MESA would be $350 a share if the economy was "good"......and we all know the answer to that.

 

[Metro752]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

You obviously do not understand What Paul Foley Does.

 

[Soverytired]

does mesa have the funds/assets to afford to go into chapter 11 or are they more likely going to go straight to chapter 7?

I'm no judge and no expert in finance but I was under the impression that to file for bankruptcy entailed a lot of mulah

Who knows? I thought Frontier was done for (regrettably), yet they managed to find DIP financing in a tough credit market.

 

[Soverytired]

Interesting discussion on APC regarding P. Foley being hired concurrent with mass-firings among the upper echelons at MAG. Interesting if true.

I don't know who the recent Chief pilot is at MAG. Is it someone with the initials of D.F.? Just curious. Anyone know?

In either case, it's way too little, way too late. Beating up the pilot group can of course continue (in this market, who's gonna fight it?), but to what end? It's Mesa, so pure sadism is probably involved, but this doesn't help pay the rent. You can't, as they say, squeeze blood from a turnip.

Ultimately, Mesa failed (again) to get rid of the 1 person who's needed to be dumped for at least the past 4 years. I saw this repeatedly over the years . . . new guy "X" brought in to fix problems, and if they were any good they either quit in frustration or were fired because they told the boss things he didn't want to hear.

 

[nerjdriver]

Who knows? I thought Frontier was done for (regrettably), yet they managed to find DIP financing in a tough credit market.

They got that before this whole mess got worse. Do you really see Mesa attaining the same?

 

[PA31Driver]

I don't know who the recent Chief pilot is at MAG. Is it someone with the initials of D.F.? Just curious. Anyone know?

D.F. was the Chief Pilot until last week. From what we hear, they called him into 44th street and told him he was no longer going to be CP. No notice or anything.

 

[PA31Driver]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

Are you trying to convince yourself or just don't see the picture? Just what the heck do you think Paul Foley is there for?

 

[crj567]

PLEASE, GOD!!!!!


If only Mesa would go BK, and J.O. were homeless on the street, giving hand-jobs for crack, it would restore my faith in justice!

J.O. deserves nothing but the very worst from life, he has been hosing people for a long time, and now it is his turn to get jackhammered by Mickey Mouse!!!

BTW-If Mesa files, they will almost certainly liquidate, there is no chance of getting financing now......

-Please,please,please,please......

 

[jetfueljunkey]

Food for thought, DIP financing and assets...MESA has over 100 million in A/C parts for assets and 10 CRJ 200's they own... It would be an uphill battle but they do have assets for dip financing...

 

[samballs]

PLEASE, GOD!!!!!


If only Mesa would go BK, and J.O. were homeless on the street, giving hand-jobs for crack, it would restore my faith in justice!

J.O. deserves nothing but the very worst from life, he has been hosing people for a long time, and now it is his turn to get jackhammered by Mickey Mouse!!!

BTW-If Mesa files, they will almost certainly liquidate, there is no chance of getting financing now......

-Please,please,please,please......

JO, and about 3 other generations of his family will be well off, his great grand children will be grateful to the pilots of mesa for flying for free.