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FLYi flies for bankruptcy (Chp. 11)

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BeCareful! said:
Oh, it's happening......trust me.

OK, I'll bite.......Why?

Explain how it would make any sense for AWAC to buy Indy and what they could possibly hope to achieve?
 
AWAC could get the remaining 50 seaters for pennies! They can then dump some of ours and replace them with airplanes that cost them next to nothing to get a hold of. That scenario would save AWAC on monthly costs. Other than flying different tail numbers, the pilots would see no change.

**WARNING**
[The above statement is in no way rooted in facts. It is pure personal speculation on a highly improbably scenario that may or may not happen. Past performance is in no way a guarentee of future gains.]
 
Best of luck to those at FlyI. I've met several of you over the years and had some jumpseat with us. Let's hope this works out satisfactorily one way or the other. ACA/FlyI has a pilot group that deserves far better than the hand they've been dealt.
 
GO AROUND said:
Cause a few weeks ago the didn't even have enough money to file Chap 11. Makes you wonder if they do have investors lined up?

Ummm, how do you not have enough money to file bankruptcy? I thought the point of bankruptcy was that you had no money. Seriously, someone please explain because I do not understand that.
 
It is very expensive to operate in bankruptcy. Attorney's fees etc... Without any new financing there will be no exit from bankruptcy.
 
J32driver said:
AWAC could get the remaining 50 seaters for pennies! They can then dump some of ours and replace them with airplanes that cost them next to nothing to get a hold of. That scenario would save AWAC on monthly costs. Other than flying different tail numbers, the pilots would see no change.

OK - I'll bite - where do they "dump" the high priced jets?

I agree - there's going to be a glut of 50 seaters, but the only people who can "dump" their existing leases are those in bankruptcy - ooooh, there's a thought, AWAC declares backruptcy - remember, you heard it here first!
 
As someone posted elsewhere. The reason FLYi didn't file Bk prior to the law change is because the law only "hurts" companies who plan to re-emerge.

Think about it.
 
Sorry to hear about your trouble guys...been there twice actually. Hope things work out for you all.....

Sincerely, a Netjets guy
 

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