While his dissertation may be have somewhat rough around the edges, he is likely correct in his synopsis of the situation. Mesa is financially strapped with no way to secure funding to get the CRJ700's in question. They have gone so far as request loans from direct competitors to secure the aircraft. United may have brought this suit to further cement a dissolution of MAG as a United carrier. The only thing MAG still has of any real value is a lucrative US Air agreement that will be there for quite some time to come. Without it, MAG would have ceased operations only ago.
With no tangible assets, I am surprised they have lasted as long as they have. They have deferred paying for parts for their aircraft and anything else they could push off. Since many have a serious amount of money forcibly invested in MAG, they keep supplying parts to hopefully get their faux investment returned. Once the writing is etched in stone and hanging form the wall, these suppliers will wash their hands and look to recoup some of the lose in bankruptcy courts.
