Mesa News

[WayBack]

JO is pretty stupid

I'm not so sure he's as stupid as you'd like him to be. He's doing something right to keep those scumbag pilots flying for as cheap as they do.
Hell, he got them to sign that last contract all on the hope off success....then yanked everything out from underneath them when filing BK.

 

[brokedash]

I read that Mesa is out of cash to pay the bills on February 12th unless they can snooker someone into giving them some credit.

An actual FACT regarding this rumor is that Mesa has put forth a motion to the BK court to get approval to reup the letter's of credit that keep the operation going. Yes, there is a bank actually willing to renew the LoC's, but MAG must first get the blessing of the court to proceed.

As of now the court has yet to set a date for objections and the actual motion hearing, but since MAG filed the motion under emergancy status they are wanting to make it a priority.

Mesa probably will most likely get the approval and continue with renewed LoC's, the only problem that might be present goes back to the start of BK when JO said the company had enough funding to get through BK. If that was in an actual court document it would be considered truthful and under oath, so it will be intresting to see if the judge corroletes MAGs request to the above statement. If anything, it will probably bring a lot more scrutiny from the court and creditors.

 

[rene]

An actual FACT regarding this rumor is that Mesa has put forth a motion to the BK court to get approval to reup the letter's of credit that keep the operation going. Yes, there is a bank actually willing to renew the LoC's, but MAG must first get the blessing of the court to proceed.

As of now the court has yet to set a date for objections and the actual motion hearing, but since MAG filed the motion under emergancy status they are wanting to make it a priority.

Mesa probably will most likely get the approval and continue with renewed LoC's, the only problem that might be present goes back to the start of BK when JO said the company had enough funding to get through BK. If that was in an actual court document it would be considered truthful and under oath, so it will be intresting to see if the judge corroletes MAGs request to the above statement. If anything, it will probably bring a lot more scrutiny from the court and creditors.

And where did you read this? Truth is Mesa has plenty of cash > $70 million. Read the court docket and affidavit from day 1.

 

[rene]

Liquidation doesn't make a company much more "cost-effective." If they can not find someone stupid enough to give them truckloads of bucks, that is where they will be.

And on what basis do you reach the conclusion "They need a truckload of bucks" Truth is they have repeated many times that they do not need any cash, any cash, any cash, any cash.

Did you read the court documents? Mesa doesn't need any cash, they do not plan on any DIP financing, and they have zero outstanding LOC's?

Hope that clears up some misconceptions.

Fly safely.

 

[Taco Rocket]

And on what basis do you reach the conclusion "They need a truckload of bucks" Truth is they have repeated many times that they do not need any cash, any cash, any cash, any cash.

Did you read the court documents? Mesa doesn't need any cash, they do not plan on any DIP financing, and they have zero outstanding LOC's?

Hope that clears up some misconceptions.

Fly safely.

You may be using acronyms here that readers don't understand. You're not going to get a decent ROI from this PBR crowd...

 

[Metro752]

You may be using acronyms here that readers don't understand. You're not going to get a decent ROI from this PBR crowd...

Oh yes, they are very secret acronyms. So secret that smug old farts like you get a rise out of thinking you are that much wiser than everyone else.

Give me a break!

At least PBR tastes better than the Jonny O' Purple Kool-Aide you're drinking. I hear your Kool-Aide is made from the tears of senior Mesa pilots hopes and dreams, and a small amount of piss from the executive crapper at Mesa HQ...

 

[Taco Rocket]

Oh yes, they are very secret acronyms. So secret that smug old farts like you get a rise out of thinking you are that much wiser than everyone else.

Thanks for the insult -- I would be disappointed without it.

 

[No Delay]

Metro... That's the funniest picture (avatar) ever.