If a Frac Goes Belly up

[flighter]

Would the owners get their money back as shareholders ?

 

[flyjetspeed]

The owners are shareholders in the aircraft only. They have a contract with the Frax company that can be enforced/litigated in the event of a default, just like any contract. Were a Frax company to shut down the owners would get their airplane and whatever was left of the company according to the bankruptcy courts. Has'nt happened yet!

 

[hawkerflyer]

Shouldn't it read "when" a frac goes belly up ?

 

[squonk]

Has'nt happened yet!

It's one step closer though....

Stay tuned.

 

[738gv]

Squonk whats up you should come over to the blue side while you have the chance.

 

[Heavy Set]

Squonk whats up you should come over to the blue side while you have the chance.

I am sure a lot of NJA guys would take you up on that offer........ Even Jet Blue's E190 rates (Captain scale after one year with the airline) are more competitive than NJA's rates... I would hope the former NJA people at Jet Blue would try to help their former peers out...

I'm sure the owners would be upset to hear that the "best trained" pilots to whom they entrust their lives are leaving...