StaySeated
IBT does not represent ME
- Joined
- Nov 27, 2001
- Posts
- 782
Small point about the hedges. On April 11th, the contracts were canceled, or they "unwound" when we filed BK. This wasn't a decision made by the airline, it just happens to the contract when one of the participants in the futures contract files. For the record, the last number I heard was $15 million from the unwinding of the contracts. The hedges included $80ish a barrel oil and a large number of crack spreads that were huge in the money.
One smaller and more humorous note. The reason I quoted the "unwound" phrase is the finance experts at frontier obviously had never heard the word, and they thought it was the coolest most hip finance term ever. Now that we are in BK, we actually come in contact with smart people everyday(BK attorneys, Financial Advisor's, ect), and our execs learn new and exciting terms all the time. They then proceed to regurgitate these new, fascinating terms on a minute by minute basis in an attempt to wow us with their big brains.
You see, if you are a CFO, or basically hold any "C" level role at an airline, you are earning peanuts compared to the "real" world, and that salary is still vastly overpaid on a brain cell/dollar ratio.
One smaller and more humorous note. The reason I quoted the "unwound" phrase is the finance experts at frontier obviously had never heard the word, and they thought it was the coolest most hip finance term ever. Now that we are in BK, we actually come in contact with smart people everyday(BK attorneys, Financial Advisor's, ect), and our execs learn new and exciting terms all the time. They then proceed to regurgitate these new, fascinating terms on a minute by minute basis in an attempt to wow us with their big brains.
You see, if you are a CFO, or basically hold any "C" level role at an airline, you are earning peanuts compared to the "real" world, and that salary is still vastly overpaid on a brain cell/dollar ratio.
