Mesa Positioning for Chapter 11?

[nerjdriver]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

34 cents due to the economy!!!!????!!!!! You MUST be trying to make a joke. It trades at 34 cents because the market doesn't value it any higher. Remember something is only worth what somebody is willing to pay for it. By that logic, MESA would be $350 a share if the economy was "good"......and we all know the answer to that.

 

[Metro752]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

You obviously do not understand What Paul Foley Does.

 

[Soverytired]

does mesa have the funds/assets to afford to go into chapter 11 or are they more likely going to go straight to chapter 7?

I'm no judge and no expert in finance but I was under the impression that to file for bankruptcy entailed a lot of mulah

Who knows? I thought Frontier was done for (regrettably), yet they managed to find DIP financing in a tough credit market.

 

[Soverytired]

Interesting discussion on APC regarding P. Foley being hired concurrent with mass-firings among the upper echelons at MAG. Interesting if true.

I don't know who the recent Chief pilot is at MAG. Is it someone with the initials of D.F.? Just curious. Anyone know?

In either case, it's way too little, way too late. Beating up the pilot group can of course continue (in this market, who's gonna fight it?), but to what end? It's Mesa, so pure sadism is probably involved, but this doesn't help pay the rent. You can't, as they say, squeeze blood from a turnip.

Ultimately, Mesa failed (again) to get rid of the 1 person who's needed to be dumped for at least the past 4 years. I saw this repeatedly over the years . . . new guy "X" brought in to fix problems, and if they were any good they either quit in frustration or were fired because they told the boss things he didn't want to hear.

 

[nerjdriver]

Who knows? I thought Frontier was done for (regrettably), yet they managed to find DIP financing in a tough credit market.

They got that before this whole mess got worse. Do you really see Mesa attaining the same?

 

[PA31Driver]

I don't know who the recent Chief pilot is at MAG. Is it someone with the initials of D.F.? Just curious. Anyone know?

D.F. was the Chief Pilot until last week. From what we hear, they called him into 44th street and told him he was no longer going to be CP. No notice or anything.

 

[PA31Driver]

none of these point to BK..

We would go BK if:

1) We lost the injunction (Not likely)

2) cant pay the bonds due in Feb.
(trading right now 34 cents to the dollar due to the economy)

We are not headed there yet, and no filings have been made. There is some wiggle room when It comes to paying off bonds. A new TA might make it to the pilot group soon..

Are you trying to convince yourself or just don't see the picture? Just what the heck do you think Paul Foley is there for?

 

[crj567]

PLEASE, GOD!!!!!


If only Mesa would go BK, and J.O. were homeless on the street, giving hand-jobs for crack, it would restore my faith in justice!

J.O. deserves nothing but the very worst from life, he has been hosing people for a long time, and now it is his turn to get jackhammered by Mickey Mouse!!!

BTW-If Mesa files, they will almost certainly liquidate, there is no chance of getting financing now......

-Please,please,please,please......

 

[jetfueljunkey]

Food for thought, DIP financing and assets...MESA has over 100 million in A/C parts for assets and 10 CRJ 200's they own... It would be an uphill battle but they do have assets for dip financing...

 

[samballs]

PLEASE, GOD!!!!!


If only Mesa would go BK, and J.O. were homeless on the street, giving hand-jobs for crack, it would restore my faith in justice!

J.O. deserves nothing but the very worst from life, he has been hosing people for a long time, and now it is his turn to get jackhammered by Mickey Mouse!!!

BTW-If Mesa files, they will almost certainly liquidate, there is no chance of getting financing now......

-Please,please,please,please......

JO, and about 3 other generations of his family will be well off, his great grand children will be grateful to the pilots of mesa for flying for free.

 

[777forever]

Man if Mesa goes bankrupt there will be a full flock of vultures circling. Everyone will want to capture that flying. Looks like this is what we have to look forward to in terms of growth for our companies. Outlast the other regionals and swoop in when one falls by the wayside. I am sure there are lots of regional CEOs checking in on the financial status of XJET and Mesa on a daily basis.

 

[TAWS]

What's the UAL rumor that someone was referring to??

 

[rickair7777]

Food for thought, DIP financing and assets...MESA has over 100 million in A/C parts for assets

So says JO...

I'd be interesting to see an actual audit of that parts count...which I'm sure would be required prior to any financing.

GE-CF34-3B1 IDG??? This looks like a used alternator off a '93 Chevy Astro-van...

 

[alpine1989]

What's the UAL rumor that someone was referring to??

UAL approached Pinnacle as a plan B for the Mesa flying?

 

[Soverytired]

They got that before this whole mess got worse. Do you really see Mesa attaining the same?

I thought it was a miracle when Frontier got a backer when they did, and I'd like to see them succeed.

That said, their business model is (as I understand it) to compete with both United and Southwest airlines out of Denver. They were in big, big trouble once Southwest started playing in their sandbox.

Nevertheless . . someone thought they were worth throwing a few tens of millions at. I don't know why ANYONE would back a bankrupt airline in the best of times, yet there you have it.

Who's to say Mesa won't be next?

 

[Soverytired]

Man if Mesa goes bankrupt there will be a full flock of vultures circling. Everyone will want to capture that flying. Looks like this is what we have to look forward to in terms of growth for our companies. Outlast the other regionals and swoop in when one falls by the wayside. I am sure there are lots of regional CEOs checking in on the financial status of XJET and Mesa on a daily basis.

Yes and no. The 50 seat CRJ is dead . . . most of Mesa's contractors would love to see Mesa disappear and take their lift to the grave.

According to their website, they only have 65 CRJ 700/900's total, and I suspect at least a dozen of those are actually CRJ 9's that Delta owns and has already found homes for.

The remaining 120 or so planes are either 50 seaters (junk), B1900 (total garbage), or DHC-8's (nice niche, but these baby's have been ridden hard and it's time to put them away wet).

 

[Soverytired]

D.F. was the Chief Pilot until last week. From what we hear, they called him into 44th street and told him he was no longer going to be CP. No notice or anything.

Thanks. I thought he'd gone to Continental.

Easy come, easy go, eh?

 

[TAWS]

UAL approached Pinnacle as a plan B for the Mesa flying?

That's pretty funny, especially since 1/3 of SkyWest is on reserve (or so I've heard) and is ready to expand rapidly, should the need arise......
I think we can say that UAL would go to SkyWest to operate these aircraft, before 9E - just ask Delta.

 

[RiddleEagle18]

That's pretty funny, especially since 1/3 of SkyWest is on reserve (or so I've heard) and is ready to expand rapidly, should the need arise......
I think we can say that UAL would go to SkyWest to operate these aircraft, before 9E - just ask Delta.

Comair's CEO has stated publicly a number of times that United has approached us for the flying as well. Delta has given us the O.K. as long as it doesn't compete head to head on any routes. Untied management has also been to our GO touring our facilities.

 

[Skaff]

Yes, because no pilot at any major and/or legacy carrier would ever "take further cuts, further lower the bar" by having a Ch 11 bk judge shove a new contract down their throats.

You're absolutely right . . . Ch 11 will make Mesa "leaner and meaner", and would ultimately hurt all other regional lift providers if they manage to find DIP financing to keep the thing afloat.

I don't get what your saying, "because no pilot at a major would ever do it?" Screw off d!ck head. Has any cut in flight crew bennies ever been good?