From Bedfords most recent letter...
"IBT lawsuit
I have been getting a lot of questions from employees about this topic so I will try and address it openly. While we continue to make good progress on our Frontier restructuring program, our efforts to close a secured-debt financing transaction to generate $70 million to $80 million in new liquidity is dead in the water due to the ongoing IBT lawsuit. It is equally clear that this uncertainty will not be removed by the Sept. 30 targeted completion date. Needless to say this was an unexpected and unproductive setback to our original plans. We are working closely with all our stakeholders to delay the requirement to complete the cash raise to a future, as yet to be determined, date. However, there is no guarantee that we will obtain such modifications to the current agreements; which unfortunately adds stress and uncertainty to a situation that isn't helpful to anyone."
If any one of the agreements (GECAS, FAPA, expedia, ect) falls apart as a result of the reckless IBT lawsuit against their own members, the IBT is going to get crushed with a DFR lawsuit.>>> it is not reckless, only those who would lose and thinks the word "illegal" is "legal" think it is. the DFR lawsuit that the Fapa invest will bring, if that happens, will bring merit to the case of IBT-do it or not. IBT has not done any harm to you or the rest of its members. if you want to take concessions or a pay cut, do it without harming someone else CBA especially those who bailed you out of bankruptcy.
Additionally, for all of you that voted for the IBT, they just cost "us" six airframes worth of growth....>>>fixed it for you. at least they can dropped trips, get PTOs approved, and get holidays off. . Nope Denied. No reserve.
Bedford is deferring the only six 190's with financing in an effort to save $36 million. He also said an asset sale is in the works to make up the additional shortage that your reckless lawsuit caused.
The 145's can't be sold for a profit, so begin to prepare yourself for a 170/175 sale. >>> they were not to suppose to be a sold, they were supposed to be swapped.
Great job IBT. Your lawsuit isn't just going to screw over your 700 newest members but also your 2000 RAH folks. >>> no one is getting screwed, only the ones that who thinks they can skate around the law. the law, the one is that is part of the constitution, BOR, amendments etc