Soverytired -tired
"Ask anyone who's ever worked at at BK airline . . . it always comes as a shock to the working stiff."
Shock? How, the wiriting is on the wall man. Do you think anyone at Skybus was saying the company will be fine? Do think people at Aloha where shocked to learn of the shutdown when they had a 10 day advanced notice? Do you think anyone at MAG is drinking the kool aid, besides perhaps JO and ML, that makes one think bankruptcy will not happen.
It's not a shock and I'm one of many currently in the regional biz where really nothing comes as a shock.
Okay, off that soap box.
MAG will enter bankruptcy and I feel it will happen sooner than later. We all know what type of beating the stock has been taking and the several million shares that are being dumped daily as MAG nose dives from being kicked off the index fund.
We are all aware of the litigation JO has become immersed in and how he will not win a majority of the suits, pehaps the Delta suit being the exception.
One question that largely remains unanswered is what Mesa's has avialable in the bank. They have to have something or they wouldn't be operating right now. At the end of the last quarter they had 80-90 mil at their disposal, considering operating cost, liabilities and other expenses, where are they at now?
MAG will not starve off Bankrupty, but the current amount of cash they have in the bank will directly relate to how much longer they can hold out. Only after crossing a certian threshold can they petition for bankruptcy.
Once the company enters Chap. 11, will they sustain the income to keep operating or will there contracts stay intact? Remember, the majors might say they despise Mesa, but they'll put up with them as long as Mesa offers the best price. If one contract is droped Mesa will downsize but upgrade equipment and carry on. If they lose more than one contract, JO better have a hail mary up his sleeve, or the rose colored glasses get knocked off and its GAME OVER.
Oh, and remember there will be at least a couple of other regionals circling Mesa like hawks waiting to force a move on JO in court that could see a court sanctioned sell off of the companies profitable assests to the competition.
Anyrate, JO will soon be entering shark infested waters, time will tell if his skin is thick enough to bat off attacks...
"Ask anyone who's ever worked at at BK airline . . . it always comes as a shock to the working stiff."
Shock? How, the wiriting is on the wall man. Do you think anyone at Skybus was saying the company will be fine? Do think people at Aloha where shocked to learn of the shutdown when they had a 10 day advanced notice? Do you think anyone at MAG is drinking the kool aid, besides perhaps JO and ML, that makes one think bankruptcy will not happen.
It's not a shock and I'm one of many currently in the regional biz where really nothing comes as a shock.
Okay, off that soap box.
MAG will enter bankruptcy and I feel it will happen sooner than later. We all know what type of beating the stock has been taking and the several million shares that are being dumped daily as MAG nose dives from being kicked off the index fund.
We are all aware of the litigation JO has become immersed in and how he will not win a majority of the suits, pehaps the Delta suit being the exception.
One question that largely remains unanswered is what Mesa's has avialable in the bank. They have to have something or they wouldn't be operating right now. At the end of the last quarter they had 80-90 mil at their disposal, considering operating cost, liabilities and other expenses, where are they at now?
MAG will not starve off Bankrupty, but the current amount of cash they have in the bank will directly relate to how much longer they can hold out. Only after crossing a certian threshold can they petition for bankruptcy.
Once the company enters Chap. 11, will they sustain the income to keep operating or will there contracts stay intact? Remember, the majors might say they despise Mesa, but they'll put up with them as long as Mesa offers the best price. If one contract is droped Mesa will downsize but upgrade equipment and carry on. If they lose more than one contract, JO better have a hail mary up his sleeve, or the rose colored glasses get knocked off and its GAME OVER.
Oh, and remember there will be at least a couple of other regionals circling Mesa like hawks waiting to force a move on JO in court that could see a court sanctioned sell off of the companies profitable assests to the competition.
Anyrate, JO will soon be entering shark infested waters, time will tell if his skin is thick enough to bat off attacks...
imp:
