I will have to go with what our lawyers say and trust their opinion in this matter. I think they have my interst in mind more then the company lawyers or other posters on Flightinfo.
I recommend that you research things for yourself. I do not trust attorneys. I don't. (I am one but chose not to practice)
McCaskill-Bond statute (49 U.S.C. ? 42112) applies when two or more air carriers are involved in a "covered transaction." This is defined in the statute as:
- A transaction for the combination of multiple air carriers into a single air carrier; and which
- Involves the transfer of ownership or control of?
- 50 percent or more of the equity securities (as defined in section 101 of title 11, United States Code) of an air carrier; or
- 50 percent or more (by value) of the assets of the air carrier. 49 U.S.C. ? 42112 (b)(4).
Purchasing less than 50% of the assets (if the aircraft are assets, which I doubt, as the vast majority of aircraft and ALL Frax (which by definition) are not assets of the company) makes M-B moot.
Finally, you are incorrect. Your lawyers are in the debate because it makes them money and for no other reason.
Bob