Mesa files ch11 bankruptcy

[olympus593]

Hope that RAH is next.

 

[khsgt]

I think this entire thing depends on whether the judge lets DL/UA follow their contracts and cancel due to the BK filing. If the Judge allows that, then Mesa is Chapter 7 almost immediately. If the Judge forces DL/UA to continue with their contract, then Mesa has a fighting chance.

Unfortunately for all the employees, the best thing to happen industry wise is for Mesa to liquidate. If they survive, Mesa will be leaner, stronger, and meaner and will force more of a downward pressure on the industry, both in terms of wages and contracts with Majors.

This has been a long time in the making, and I find it hard to believe that JO doesn't have at least a plan to get out of it. Whether it works or not is another story. He is a snake of the biggest proportions, and he usually has a way out of ******************** while screwing everybody in his path.

Good luck boys and girls at Mesa, this ship may be headed to the bottom.

 

[rickair7777]

I think this entire thing depends on whether the judge lets DL/UA follow their contracts and cancel due to the BK filing. If the Judge allows that, then Mesa is Chapter 7 almost immediately. If the Judge forces DL/UA to continue with their contract, then Mesa has a fighting chance.

BK only works in one direction with regard to contracts...you can get out of YOUR obligations.

You cannot force your customers to continue to use your services unless there was an existing contract to that effect. Since all those contracts have BK clauses, they are effectively null and void today. It's possible a judge might issue a short-term stay, but it won't hold up for long. The contractual provision in this case is crystal clear, with no grey area or room for argument.

Basically DAL, UA, and US have a choice to make...I wonder what DAL will do

 

[Popeye0537]

Hope that RAH is next.

I don't get you olympuss, why do you put up hot avatar pics of women when your so into men??

 

[olympus593]

I don't get you olympuss, why do you put up hot avatar pics of women when your so into men??

I'm into men? Did not know that, thanks for the info, now get back under BB's desk.

 

[olympus593]

I don't get you olympuss, why do you put up hot avatar pics of women when your so into men??

Popeye0537 wrote: "I may work for S^itty wages but those S^itty wages allowed my compnay to PURCHASE your's".

I hope RAH is next!

 

[redflyer65]

Man, I didn't see this one coming....

 

[WhendoIgetpaid]

wow, did you really say that Popeye!? that's friggin awful.

 

[CesnaCaptn]

Just hope that in 1113C that the pilots do not agree to a deplorable contract. That will not be good for any of us.

There are varying degrees of "deplorable," but didn't Delta, Usair, and United do that?

 

[CX880]

It was foretold by the prophecy that it would happen. God bless us.

We are not out of the woods yet, the judge still has to approve any decision made by Delta, UA or US to cx the contracts. Only then is Mesa really F'ed.

 

[Anonymous2]

I hope all non wholly owned regionals and those pesky fare lowering lcc's are next. The airline industry may actually improve, and then people can get hired into better pay and possibly better work rules. There are too many airlines out there and my assumption is these are the types of carriers that should go.

 

[Metro752]

Republic Sucks

 

[Salukipilot4590]

Republic Sucks

That has a pretty catchy ring to it!

 

[boomlrd]

hmm... Mesa shares down 53% for the day, might be a little pop in the morning, anyone else buying a few thousand shares to make a quick buck?

 

[OCP]

hmm... Mesa shares down 53% for the day, might be a little pop in the morning, anyone else buying a few thousand shares to make a quick buck?

Generally you will lose all the stock you own when a company goes through ch11.