Can Mesa Raise 37.8M?

[B.T.Justice]

Looks like Mesa's plan to issue stock to raise 37.8M isn't gonna work. At this mornings price of 65 cents, they would have to issue 58,153,846 shares. Thats more than double the current outstanding shares (26.88M). Talk about diluting your stock price. Bankruptcy looks like a pretty good option right now.

 

[Oakum_Boy]

Chapter 7 looks real good. I say go for it guys.

 

[skid]

Chapter 7 looks real good. I say go for it guys.

Yes I agree that Mesa sux. I have several friends that have worked there that absolutely hated it. Also it is also run by one of the sleaziest guys in the industry.
But you always have to remember that there are a lot of crews and other workers there that are there to try and make a living (no matter how much the pay sucks). If they do file I hope it is done with a fare amount of warning for them to find other employment.

Yes I think shares at 60ish cents or what ever it is, is a good warning.

 

[flyboyike]

I imagine any company would have a hard time raising nearly twice its own market cap in cash, and that's just for one payment. But then stranger things have happened.

 

[Pilot124]

Yes I agree that Mesa sux. I have several friends that have worked there that absolutely hated it. Also it is also run by one of the sleaziest guys in the industry.
But you always have to remember that there are a lot of crews and other workers there that are there to try and make a living (no matter how much the pay sucks). If they do file I hope it is done with a fare amount of warning for them to find other employment.

Yes I think shares at 60ish cents or what ever it is, is a good warning.

You think Mesa cares enough about them to give them fair warning?:smash: They will close shop overnight and sweep everyone under the carpet. There has been plenty of time for the pilots to get out of there. The writing has been on the wall for quite some time now. I hate to see anyone lose their job but come on.

 

[Flyprdu]

Mesa pilots, today's events are clear enough. Consider yourself notified.

 

[popgoesbubble]

Boy I recall when the Mesa Pilots were doggin the Indy Air guys when there stock was worth a Dollar per share. My how things have changed for those guys. :bomb:

 

[Soverytired]

You think Mesa cares enough about them to give them fair warning?:smash: .

I don't know off any company that lets it's employee's know about impending bankrupcy . . .especially "park the airplane" kind.

It sucks, but lets face it. Half the people would quit before BK day, and the other half would stick around to steal as many "souvenirs" (and liquor cabinets) as possible. And that's just the pilots. FA's, gate agents, rampers, crew trackers would all leave for better gigs. . . the place would fall apart in short order.

Skybus, National, Maxjet, Independence Air . . . just a few airlines where the working stiff didn't know it was their last flight until they were actually on it.

 

[dispatchguy]

the place would fall apart in short order.

You mean it already hasnt?

 

[Flybywire44]

No company would let anyone know... They don't want anyone running away from the company till the company is done with them.

 

[Soverytired]

You mean it already hasnt?

Touche' !

:laugh:

 

[SBD]

If I knew the company was going under, no way in h*ll am I showing up for any report time that begins b4 10am.

 

[Nevets]

I don't know off any company that lets it's employee's know about impending bankrupcy . . .especially "park the airplane" kind.

It sucks, but lets face it. Half the people would quit before BK day, and the other half would stick around to steal as many "souvenirs" (and liquor cabinets) as possible. And that's just the pilots. FA's, gate agents, rampers, crew trackers would all leave for better gigs. . . the place would fall apart in short order.

Skybus, National, Maxjet, Independence Air . . . just a few airlines where the working stiff didn't know it was their last flight until they were actually on it.

No company would let anyone know... They don't want anyone running away from the company till the company is done with them.

Skyway and Champion

 

[sbn340mech]

I guess the last two regionals I worked for were the exception. Chicago Express and Skyway both gave roughly 3-4 months notice of a shutdown. I stayed till the end at both places. Mostly due to a somewhat decent severence package and overtime was an open checkbook $$$

I feel for those who get no or little warning

 

[B.T.Justice]

I don't know off any company that lets it's employee's know about impending bankrupcy . . .especially "park the airplane" kind.

It sucks, but lets face it. Half the people would quit before BK day, and the other half would stick around to steal as many "souvenirs" (and liquor cabinets) as possible. And that's just the pilots. FA's, gate agents, rampers, crew trackers would all leave for better gigs. . . the place would fall apart in short order.

Skybus, National, Maxjet, Independence Air . . . just a few airlines where the working stiff didn't know it was their last flight until they were actually on it.

Flyi gave almost a weeks notice to customers and employees.
But there is no strategic advantage for Mesa to do so. UAL/DAL/USair can make other arrangements for customers....Only the employees take it in the rear.

 

[ifly4u]

You know for once I think this might be more than just flightinfo dribble. At this point I don't see how they can avoid BK and liquidation is starting to seem like a very real possibility. Too bad for the crews they always treated me like gold when I used commute on them. I hope you guys are able to move on to greener pastures if it all goes south.

 

[brokedash]

Alhoa said they had 10 days to get financing or a buyer or it was tits up. It served as a week and a halfs notice.

Usually a company will have shut down long before they convert to Chap. 7. I'm sure Mesa employees will get some sort of timeline when JO has to tell the judge how much money MAG has on hand and how long that will keep them operating.