- Sep 28, 2005
- Total Time
Yes it is.......as is the fact that Aloha pilots can't transport their longevity and experience to other ALPA carriers...EQUALLY DISGUSTING!
We are our own worst enemy.....
Essentially, in return for the use of the "Aloha Airlines" name, Mesa has agreed to pay Yucaipa 1% of the passenger ticket revenue generated from all Hawaiian inter-island revenue AND it will also pay Yucaipa 30% of the pre-tax operating profits from the operations. If Mesa stops flying in Hawaii, then Yucaipa gets a $5 million promissory note payable in five years at a rather hefty interest rate.
Amazing. Just simply amazing.
Wonder what Yucaipa gets if Mesa declares bankruptcy?
According to the latest quarterly numbers, MESA has in the neighborhood of $55-60 million in Assets. A lienholder would be standing toward the front of the line in a bankruptcy settlement.Yes, but a lien against Mesa assets? Unless they can renegotiate their payments due int he First Quarter they're gone.