Mesa files ch11 bankruptcy

[olympus593]

Hey no problem, my gay flight attendants tell me is was horrible being in the closet for so long. I just don't want you to suffer like they did.

I see you figured out how to rip qoutes off Animal Tale.....is he the Mr. Right you've been hiding all this time?

Calling me gay is the best you can do?

 

[WayBack]

Great, now these scum bags will fly for even cheaper, thus taking more flying away from other carriers.

 

[olympus593]

Mesa Air Group Receives Nasdaq Staff Delisting Notice
PHOENIX, Jan 06, 2010 (BUSINESS WIRE) -- On January 5, 2010, Mesa Air Group, Inc. (the "Company") (Nasdaq: MESA) received a letter from The Nasdaq Stock Market (the "Exchange") indicating the Staff's determination that the Company's securities will be delisted from the Exchange. This decision was reached by Nasdaq under Listing Rules 5101, 5110, 5110(b) and IM-5101-1 in view of the January 5, 2010 announcement by the Company of a voluntary filing by the Company for relief under Chapter 11 of the U.S. Bankruptcy Code. The Company does not intend to take any further action to appeal the Exchange's decision. Accordingly, trading of the Company's common stock will be suspended at the opening of business on January 14, 2010, and a Form 25-NSE will be filed with the Securities and Exchange Commission ("SEC") which will remove the Company's common stock from listing and registration on the Exchange.
The Company's common stock will not be immediately eligible to trade on the OTC Bulletin Board or in the "Pink Sheets." The Company's common stock may become eligible if a market maker makes application to register in and quote such securities in accordance with SEC Rule 15c2-11 (a "Form 211"), and such application is cleared. Only a market maker, not the Company, may file a Form 211.

Mesa currently operates 130 aircraft with approximately 700 daily system departures to 127 cities, 41 states, Canada, and Mexico. Mesa operates as Delta Connection, US Airways Express and United Express under contractual agreements with Delta Air Lines, US Airways and United Airlines, respectively, and independently as Mesa Airlines and go! Mokulele. This operation links Honolulu to the neighbor island airports of Hilo, Kahului, Kona and Lihue. The Company, founded by Larry and Janie Risley in New Mexico in 1982, has approximately 3,500 employees.

 

[PBRstreetgang]

A few more happy notes:
http://www.marketwatch.com/story/me...-tough-future-2010-01-06?reflink=MW_news_stmp
And a happy finish:

Chapter 11

Chapter 11 bankruptcy is a form of bankruptcy reorganization available to individuals, corporations and partnerships. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt.
Individuals usually file Chapter 7 or Chapter 13 rather than Chapter 11.
The debtor usually remains in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors. The debtor in possession is a fiduciary for the creditors. If the debtor's management is ineffective or less than honest, a trustee may be appointed.
(UH OH)
A creditors committee is usually appointed by the U.S.Trustee from among the 20 largest, unsecured creditors who are not insiders. The committee represents all of the creditors in providing oversight for the debtor's operations and a body with whom the debtor can negotiate an acceptable plan of reorganization.
A Chapter 11 plan is confirmed only upon the affirmative votes of the creditors, who are divided by the plan into classes based on the characteristics of their claims, and whose votes are a function of the amount of their claim against the debtor.
If the debtor can't get the votes to confirm a plan, the debtor can attempt to "cram down" a plan on creditors and get the plan confirmed despite creditor opposition, by meeting certain statutory tests.
Chapter 11 is probably the most flexible of all the chapters, and as such, it is the hardest to generalize about. Its flexibility makes it generally more expensive to the debtor. The rate of successful Chapter 11 reorganizations is depressingly low, sometimes estimated at 10% or less.
Individuals usually reorganize under Chapter 13, which offers a streamlined plan at modest cost that allows the individual to keep possession of his assets, catch up on secured debt, and discharge unsecured debt at the end of the plan. Read how Chapter 13 works.

Enjoy
PBR

P.S. Pdunce, here is your next training event, study hard:
http://www.youtube.com/watch?v=QFQyib5ZQZY

 

[Dashmonster]

P.S. Pdunce, here is your next training event, study hard:
http://www.youtube.com/watch?v=QFQyib5ZQZY[/QUOTE]

F'ing funny man... PHX base for Piedmont? Upgrades? Airplanes? Been here five years and heard lots of rumors and so far 100% have been false. But hey, why not jump on the band wagon one more time. Mesa DH-8's are total POS and if someone does get them beware!! I think the majority of them are our old PDT 200's, with the APU's tore out. That should be enjoyable in AZ.

But hey lets face it

Mesa SUCKED
Republic SUCKS
Piedmont BLOWS

 

[CX880]

A few more happy notes:
http://www.marketwatch.com/story/me...-tough-future-2010-01-06?reflink=MW_news_stmp
And a happy finish:

Chapter 11

Chapter 11 bankruptcy is a form of bankruptcy reorganization available to individuals, corporations and partnerships. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt.
Individuals usually file Chapter 7 or Chapter 13 rather than Chapter 11.
The debtor usually remains in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors. The debtor in possession is a fiduciary for the creditors. If the debtor's management is ineffective or less than honest, a trustee may be appointed.
(UH OH)
A creditors committee is usually appointed by the U.S.Trustee from among the 20 largest, unsecured creditors who are not insiders. The committee represents all of the creditors in providing oversight for the debtor's operations and a body with whom the debtor can negotiate an acceptable plan of reorganization.
A Chapter 11 plan is confirmed only upon the affirmative votes of the creditors, who are divided by the plan into classes based on the characteristics of their claims, and whose votes are a function of the amount of their claim against the debtor.
If the debtor can't get the votes to confirm a plan, the debtor can attempt to "cram down" a plan on creditors and get the plan confirmed despite creditor opposition, by meeting certain statutory tests.
Chapter 11 is probably the most flexible of all the chapters, and as such, it is the hardest to generalize about. Its flexibility makes it generally more expensive to the debtor. The rate of successful Chapter 11 reorganizations is depressingly low, sometimes estimated at 10% or less.
Individuals usually reorganize under Chapter 13, which offers a streamlined plan at modest cost that allows the individual to keep possession of his assets, catch up on secured debt, and discharge unsecured debt at the end of the plan. Read how Chapter 13 works.

Enjoy
PBR

P.S. Pdunce, here is your next training event, study hard:
http://www.youtube.com/watch?v=QFQyib5ZQZY

pbrstreetgang, you skywest scumbag. I can't wait to see the day when you guys have to answer for those 178 CRJ2s as well.

 

[PBRstreetgang]

pbrstreetgang, you skywest scumbag. I can't wait to see the day when you guys have to answer for those 178 CRJ2s as well.

Wasamatter hulasfelcher? With messa gone, you chitbags are next, hulas and his asylum full of henchmen are of the same category as JO, criminals! Your days are numbered, all you will have for your facebook page are the memories of swinging the gear for a chithead, and felching hulas, as soon as he returns from Bombay.
One down, you to go!
PBR

 

[Fltlvls]

Heyas,

It wouldn't be any be big a deal at all. DAL has about 30 DC-9-30s in the desert that could be jump started in about 7 days...which is exactly what they've been used for in the past, such as when XJ parked all of their Avros.

So I say please, go ahead and make my day.

Nu

Then why haven't they pulled them out of the desert to replace Comairs 50 seaters?..7 days is a long time when there are what..60-100 flighta a day that Freedom operates.What would DL do with that many pax everyday for 7 days or longer?..If you are confident they could do it , I would say start getting them warmed up then.

 

[Fltlvls]

First off! Why in the Hell would JO wanna buy Piedmont Airlines? What part of Piedmont is attractive to anyone but US Airways.
We are around because we are a flexible and cheap operation for US Airways. We can be deployed, moved and shuffled at little to no cost for Group.
We are kinda like the baseball player that can play ever position on the field, but we aren't great at any of them.

Wouldn't you think PSA would be more believable? But Piedmont! Holy Crap!

You said the majic words to JOs ears "we are a flexible and cheap operation".:laugh:

 

[Fltlvls]

Wasamatter hulasfelcher? With messa gone, you chitbags are next, hulas and his asylum full of henchmen are of the same category as JO, criminals! Your days are numbered, all you will have for your facebook page are the memories of swinging the gear for a chithead, and felching hulas, as soon as he returns from Bombay.
One down, you to go!
PBR

GEEZZZ!!!.....Calm down..Your post's seem like nervous chatter because you don't have anything useful to say.

 

[BHopper88]

This is key:

"In its bankruptcy filing in U.S. Bankruptcy Court in New York, Mesa listed $975.5 million in assets and $868.6 million in debts. Mesa and 10 affiliates were included in the petition."

THIS IS HUGE.... Even if Mesa gets out of some of its debt, it still owes a ton, plus with Delta and United dropping Mesa's services WHERE ARE THEY GOING TO GET THEIR INCOME FROM (besides USAIRWAYS). Mesa has TOO MANY PROBLEMS with few if any options to save it. Even IF, they ever emerge from Chp 11, they have to their reputation to deal with. What major airline would want to have them as a partner when they have shown they are not dependable.

This will be a quick fall of Mesa.... I do feel sorry for all those employed at Mesa, but at the same time, this economy in many ways might help the industry by killing the weaker companies and building up the stronger ones that know how to do business and have a quality product.

 

[Fltlvls]

This is key:

"In its bankruptcy filing in U.S. Bankruptcy Court in New York, Mesa listed $975.5 million in assets and $868.6 million in debts. Mesa and 10 affiliates were included in the petition."

THIS IS HUGE.... Even if Mesa gets out of some of its debt, it still owns a ton, plus with Delta and United dropping Mesa's services WHERE ARE THEY GOING TO GET THEIR INCOME FROM (besides USAIRWAYS). Mesa has TOO MANY PROBLEMS with few if any options to save it. Even IF, they ever emerge from Chp 11, they have to their reputation to deal with. What major airline would want to have them as a partner when they have shown they are not dependable.

This will be a quick fall of Mesa.... I do feel sorry for all those employed at Mesa, but at the same time, this economy in many ways might help the industry by killing the weaker companies and building up the stronger ones that know how to do business and have a quality product.

Another financial expert along with the attorneys, judges and jury here on FI.

 

[CRJ puppy]

Then why haven't they pulled them out of the desert to replace Comairs 50 seaters?..7 days is a long time when there are what..60-100 flighta a day that Freedom operates.What would DL do with that many pax everyday for 7 days or longer?..If you are confident they could do it , I would say start getting them warmed up then.

You guys certainly have short term memories. Delta can and will stop flying overnight if they can do it within the constraints of a contract.

You forget that one Oct 31st not too long ago that 30 DoJets left CVG on their regularly scheduled flights with passengers and not a single one came back on Nov 1st. That flying stopped literally overnight was slowly replaced over a period of a couple of months.

United did a simliar thing also.

The regional feed of any one carrier just isn't all that important...epsecially when you have multiple carriers flying to your multiple hubs...it hurts a little, but not all that much in the grand scheme of things.

And I can go on with numerous other examples.

Short term, there really won't be any changes going on.

Anyway, carry on...

 

[Fltlvls]

You guys certainly have short term memories. Delta can and will stop flying overnight if they can do it within the constraints of a contract.

You forget that one Oct 31st not too long ago that 30 DoJets left CVG on their regularly scheduled flights with passengers and not a single one came back on Nov 1st. That flying stopped literally overnight was slowly replaced over a period of a couple of months.

United did a simliar thing also.

The regional feed of any one carrier just isn't all that important...epsecially when you have multiple carriers flying to your multiple hubs...it hurts a little, but not all that much in the grand scheme of things.

And I can go on with numerous other examples.

Short term, there really won't be any changes going on.

Anyway, carry on...

Not my problem either way..I'm not there anymore

 

[BHopper88]

Another financial expert along with the attorneys, judges and jury here on FI.

Let me guess you work for Mesa? Really how do you think Mesa will get revenue? EVEN if they are able to clear ALL OF THEIR DEBTS, how will they make any money? Do you really think united or delta will take them back? comparing DELTA, United or any major airline chp 11 is WAY different then having a regional declare chp 11.. Look what happened to independence/ACA..

They have to show that they can make money and return to profitability, but they have no real means insight to do that... Especially when their source of revenue (major airlines) want to get rid of them for various reasons.

I mean how many of your competitors (ie Skywest, Eagle, Expressjet, etc) want to even buy your aircraft when you cant really seem to keep them up to standards to begin with. Its not like those of us from other airlines are making up claims about MESA, most comes from those THAT USED TO WORK AT MESA. Personally I dont think chp 11 can save a rotting product that is run by a crook, that has shown time and time again what they will do to their internal books in pervious court battles. Maybe they will find out that all their financial info is infested with viruses from the accountants searching for porn during day to day ops.