MESA and Bombardier

ePilot22

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from above press release said:
In addition to delaying the order, Mesa amended its purchase agreement to obtain a return of US$6 million of its US$6.5 million deposit.
a different press release said:
(ii) exchange $18.9 million in aggregate principal amount at maturity of the 2023 Notes and $70.9 million in aggregate principal amount at maturity of the 2024 Notes for an aggregate of $5.6 million in cash

Hmm....








eP.
 

Dubya

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I think this is the part where JO takes the money and runs.
AAAAAAyoouuuuuuuuuLord. Go on take the money and run. OOOOh oooooh ooooh



W
 

SPDBRD747400

World's Favourite Airline
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Oh yeah:

MESA SUCKS!
 

spudskier

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Starting to sound like ASA SUCKS!
I don't see the similarity of connection... ASA hasn't delayed deliveries. ASA doesn't have JO... quite the opposite. Trading some airplanes, yes, but not for the same reasons.

I would say that Mesa should NEVER be compared to ASA... like comparing garbage water with Shasta. At least Shasta is trying to taste good.
 

dooork

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I don't see the similarity of connection... ASA hasn't delayed deliveries. ASA doesn't have JO... quite the opposite. Trading some airplanes, yes, but not for the same reasons.

I would say that Mesa should NEVER be compared to ASA... like comparing garbage water with Shasta. At least Shasta is trying to taste good.
But shasta still SUCKS!
 

ex j-41

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Anyone care to translate this.... and talk to me like i am 6 years old....better make that 4 years old.

PHOENIX, Jan. 22 /PRNewswire-FirstCall/ -- MESA AIR GROUP, INC. (Nasdaq: MESA) announced today that it has entered into separate agreements with certain holders of its Senior Convertible Notes Due 2023 (the "2023 Notes") and certain holders of its Senior Convertible Notes Due 2024 (the "2024 Notes") to (i) waive the January 31, 2009 put right for $15.6 million in aggregate principal amount at maturity of the 2023 Notes and (ii) exchange $18.9 million in aggregate principal amount at maturity of the 2023 Notes and $70.9 million in aggregate principal amount at maturity of the 2024 Notes for an aggregate of $5.6 million in cash, 13.6 million shares of the Company's common stock, no par value (the "Common Stock"), and $14.3 million in aggregate principal amount of the Company's new 8% senior unsecured notes due 2012 (the "2012 Notes"). The issuance of the Common Stock and 2012 Notes in the exchange, which is expected to close on or around February 10, 2009, is exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 3(a)(9) and Section 4(2) thereof. Following the exchange, and assuming no other holders exercise their upcoming put rights, approximately $32.5 million in aggregate principal amount at maturity of the 2023 Notes ($13.4 million of put value on January 31, 2009) and $49.5 million in aggregate principal amount at maturity of the 2024 Notes ($28.9 million of put value on February 10, 2009) will remain outstanding.
 

kf4amu

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Anyone care to translate this.... and talk to me like i am 6 years old....better make that 4 years old.

PHOENIX, Jan. 22 /PRNewswire-FirstCall/ -- MESA AIR GROUP, INC. (Nasdaq: MESA) announced today that it has entered into separate agreements with certain holders of its Senior Convertible Notes Due 2023 (the "2023 Notes") and certain holders of its Senior Convertible Notes Due 2024 (the "2024 Notes") to (i) waive the January 31, 2009 put right for $15.6 million in aggregate principal amount at maturity of the 2023 Notes and (ii) exchange $18.9 million in aggregate principal amount at maturity of the 2023 Notes and $70.9 million in aggregate principal amount at maturity of the 2024 Notes for an aggregate of $5.6 million in cash, 13.6 million shares of the Company's common stock, no par value (the "Common Stock"), and $14.3 million in aggregate principal amount of the Company's new 8% senior unsecured notes due 2012 (the "2012 Notes"). The issuance of the Common Stock and 2012 Notes in the exchange, which is expected to close on or around February 10, 2009, is exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 3(a)(9) and Section 4(2) thereof. Following the exchange, and assuming no other holders exercise their upcoming put rights, approximately $32.5 million in aggregate principal amount at maturity of the 2023 Notes ($13.4 million of put value on January 31, 2009) and $49.5 million in aggregate principal amount at maturity of the 2024 Notes ($28.9 million of put value on February 10, 2009) will remain outstanding.
The bondholders gave up future cash (2023/2024) for less cash and stock NOW.

They gave up the right to excercise the 15.6 million put right (the payments they are worried about), and 89.8 million of the principle due 2023/2024.
In return, they received 5.6 million cash and 13.6 million shares, and 14.3 million in new notes due 2012.


If none of the bondholders (whos bonds mature in 2023/2024, but can excercise put rights for cash Jan 31 and Feb 10) excercise those put rights, they will still have 82 million in bonds outstanding.


They aren't out of the woods yet. Still may have to pay 13.4 million on Jan 31, and 28.9 million on Feb 10th unless the bondholders agree to some similar type of agreement.
 

Broke in CVG

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Anyone care to translate this.... and talk to me like i am 6 years old....better make that 4 years old.
Let's say you are still breast feeding. The teet has run dry so there is no milk for you. However, we can give you a bottle now and when you grow up we will give you a girl with some big-n DDs.

Got it?

They didn't have any money to give the bond holders. So the bond holders decided that something was better than nothing. So they get some worthless stock now, some cash, and a promise to give them some more cash in 2012 and then pay back the original bonds and some extra in 2023 & 2024.
 
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CX880

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They didn't have any money to give the bond holders. So the bond holders decided that something was better than nothing. So they get some worthless stock now, some cash, and a promise to give them some more cash in 2012 and then pay back the original bonds and some extra in 2023 & 2024.
God Bless America. What ever happened to committing suicide to keep your honor when you couldn't pay your debts? They did that a few centuries ago.
 
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God Bless America. What ever happened to committing suicide to keep your honor when you couldn't pay your debts? They did that a few centuries ago.
Are you some sort of mentally challenged a$s ape?
 

NoJoy

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That was pretty funny :)
 

MONKEY

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I think that everyone in the airline industry, who works for a regional, should have gone together to buy the bonds from the bond holders. We could have demanded payment now. When Mesa couldn't pay, they would have to go chapter 11.
 

kf4amu

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I think that everyone in the airline industry, who works for a regional, should have gone together to buy the bonds from the bond holders. We could have demanded payment now. When Mesa couldn't pay, they would have to go chapter 11.
Or just buy a controlling interest in the company and liquidate it.
 
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