Mesa to file bankruptcy

[Ezralite]

Whenever I think about people going to work for Mesa I think of the movie The Breakfast Club. You know, the part when Bender asks Carl the janitor "How does one become a janitor?" and Carl says "You want to be a janitor?" Then Bender says "I just wanna know how one becomes a janitor because Andrew here is very interested in pursuing a career in the custodial arts."

Now just substitute "janitor" with "Mesa pilot". I want to know how one becomes a Mesa pilot. Can someone tell me?

 

[belchfire]

I wonder if any motorcycles will be repossesed...

 

[Soverytired]

Whenever I think about people going to work for Mesa I think of the movie The Breakfast Club. You know, the part when Bender asks Carl the janitor "How does one become a janitor?" and Carl says "You want to be a janitor?" Then Bender says "I just wanna know how one becomes a janitor because Andrew here is very interested in pursuing a career in the custodial arts."

Now just substitute "janitor" with "Mesa pilot". I want to know how one becomes a Mesa pilot. Can someone tell me?

Uh huh. Tell that to the hundreds, if not thousands, of former Mesa pilots now working at their dream jobs at legacies, LCC's, and fractionals.

 

[go!ng for broke]

I wonder if any motorcycles will be repossesed...

And the scooter too!!

 

[Pilot124]

Shareholds big

SOURCE: Arizona Republic
http://www.azcentral.com/arizonarepublic/business/articles/0418biz-mesaair0418.html

Mesa Air Group chairman notes struggle ahead
Ornstein sidesteps shareholder queries on possibility of bankruptcy for airline
Dawn Gilbertson
The Arizona Republic
Apr. 18, 2008 12:00 AM

The first question posed to Mesa Air Group Chairman Jonathan Ornstein at the airline's annual shareholders meeting Thursday was one that has been on the minds of many of the struggling airline's investors:

Is a bankruptcy filing inevitable?

Ornstein said he doesn't believe "anything is inevitable" but conceded that the Phoenix-based regional carrier's challenges are daunting. "It's going to be tricky," he said.

Mesa, short on cash after an $80 million court judgment in Hawaii, losses in its Hawaiian operations and other factors, should have a clearer picture of the situation in the next few weeks, Ornstein said.

"We will do everything we can to see the company through this difficult period," he said.

In the brief meeting at the company's headquarters, he did not update shareholders on the airline's cash position or its efforts to raise money. Its last financial results were released in February.

Ornstein has said for months that Mesa wants to raise $50 million and that its options include selling its spare-parts inventory.

The airline also recently filed paperwork to seek shareholder approval to issue stock to repay $38 million in bonds coming due. The outlook for such an offering is unclear given the freefall in Mesa's stock, which significantly increases the number of shares it needs to issue to pay off the bonds.

Mesa has filed a lawsuit to block the cancellation of the contract. At the same time, it is also looking at its options, because the loss of business would mean Mesa has to find homes for 36 regional jets that aren't popular in the industry right now. uke: MESA

 

[go!ng for broke]

Uh huh. Tell that to the hundreds, if not thousands, of former Mesa pilots now working at their dream jobs at legacies, LCC's, and fractionals.

Please define "dream job".

 

[Soverytired]

I think the more interesting questions are:

• How would Mesa restructure under bankruptcy and what would a "new" leaner and meaner Mesa look like?
• Will there be a shake-up of the BOD?
• Will there be a "graceful exit" allowed for the CEO?

Bad stuff, all around for the Mesa pilots. Christ, they might have to take a concessionary contract after all. YIKES!

If so, I'd hope that they do everything short of a job action (cough, cough, hint hint) . . . I mean . . concessionary contract, diminished job prospects, furloughs, and a big fat bonus for the boss. Sheesh.

 

[Ezralite]

Uh huh. Tell that to the hundreds, if not thousands, of former Mesa pilots now working at their dream jobs at legacies, LCC's, and fractionals.

I think I've flown with some of those guys. You ask them where they used to work and they curl up into the fetal position and cry uncontrollably.

 

[Wesb737fo]

I think I've flown with some of those guys. You ask them where they used to work and they curl up into the fetal position and cry uncontrollably.

"take me to a happy place! take me to a happy place! take me to a happy place!"

 

[dispatchguy]

uke:MESA SUCKS