ABX's Future

[hvydriver]

Again no. It was not a passing comment by Mullen. He says clearly that he will take Hetes word that discussions were tossed back and forth but both sides could not reach an agreement so they went with a UPS option. And I agree 100% the problem is not the air side. And the monumental loss of customers since the announcement keeps pushing DHL down.

Shooter, would you not agree that this proves my position? Hete can talk all he wants. Whatever he talks about is not something that the Germans asked for, were listening to, or were interested in. Hete chose to buck the plan. He (and all of us) is now getting his lunch handed to him. He's bucked them one time too many. Game over. (Remember, I'm not saying the Germans are right by a long shot, but as I have also said in the past whoever writes the check makes the rules. Right or wrong.) Hete never seemed to get that. I wish you guys the best, but for all Joe's bravado, given the state of the company, I don't see any long term survival for ATSG after the hammer falls. Needless to say, we're dead as soon as DHL stops using us. What amazes me is that he's still in charge.

 

[shooter]

I'm......holding......back....... :laugh:

 

[countbat]

Just out of curiosity!. Does ABX/ATSG have any cash on the side for just such a situation?.....If not, and your stock, through some kind of miracle, will not revive soon, I don't see too many chances of survival. That's unfortunate taking in consideration ABX is a good company with an excellent pilot group.
What are the chances to survive using ATi/Cappy umbrella?

 

[flyinboxes]

Just out of curiosity!. Does ABX/ATSG have any cash on the side for just such a situation?.....If not, and your stock, through some kind of miracle, will not revive soon, I don't see too many chances of survival. That's unfortunate taking in consideration ABX is a good company with an excellent pilot group.
What are the chances to survive using ATi/Cappy umbrella?

I would say ATI and Cappy have a good chance of survival if and only if Joe Bankrupts ABXA. If he doesn't, the entire ship will sink. He needs out of debt, he is trapped as he can't buy back stock STILL if I remember correctly. If he could, he could buy it all back and take it private. I believe DHL wants to go ahead and bankrupt ATSG or ABXA out of spite and to help themselves. This would help them (DHL) by eliminating the lift available for competitors and ATI's flying for the competition DB SCHENKER. This would really screw SCHENKER.

When Mullins says DHL didn't care who bought who, this is probably true in relative terms, however, DHL bought Astar in order to give them the leverage to buy ABXA not the other way around. 7.75 Joe, thanks buddy.

 

[abxaviator]

I'm certainly NOT a BK lawyer and i didn't even stay at a Holiday Inn Express last night, but it is my understanding that ABX cannot enter BK proceedings independent of ATSG. ABX could be shut down, but that would do nothing to reduce the debt load of ATSG.

 

[TWA]

ATA was owned by the same holding company that owns World and North American, to the best of my knowledge neither of those went Tango Uniform.

 

[abxaviator]

Like my disclaimer said, I am no expert and may very well be wrong, only thing I do know is I won't be around to find out!

 

[nitefr8dog]

ATA was owned by the same holding company that owns World and North American, to the best of my knowledge neither of those went Tango Uniform.

The 300m dept belongs to ATSG, all three carriers now share it. ABX was not the part that lost money last quarter.

 

[flyinboxes]

The 300m dept belongs to ATSG, all three carriers now share it. ABX was not the part that lost money last quarter.

My point was (and I am no BK lawyer either is that somehow the "World, N.American, ATA" conglomerate managed to Bankrupt ATA alone and their structure is almost identical to the now ATSG it seems. When ATA went BK and liquidated I couldn't understand how it was legal but I guess it was because they are toast and the other 2 survived for now. I guess that is why they are called "holding companies". They hold separate companies but somehow mix and mash money together but can get rid of one at any time. I believe Joe can BK ABXA to rid himself of the DHL note, then liquidate to pay down the other 200 million plus.

 

[shooter]

My point was (and I am no BK lawyer either is that somehow the "World, N.American, ATA" conglomerate managed to Bankrupt ATA alone and their structure is almost identical to the now ATSG it seems. When ATA went BK and liquidated I couldn't understand how it was legal but I guess it was because they are toast and the other 2 survived for now. I guess that is why they are called "holding companies". They hold separate companies but somehow mix and mash money together but can get rid of one at any time. I believe Joe can BK ABXA to rid himself of the DHL note, then liquidate to pay down the other 200 million plus.

What would he liquidate? The 767's are the future for any of the 3 ATSG companies. They are the backbone to ATSG being competitive in an ACMI market with or without ABX flying them. I guess you could include the ATI combi's as attractive to military business, but they are few in number compared to the 767's.