Mesaba MX to YUL

[i fly boxes]

Lots of upcoming news this week at Mesaba. The Rundown:

Tuesday: Mesaba announces its restructuring plan

Wed: NWA announces Mesaba will be receiving 36 CRJ 900's with the
option for 90 more

Thurs: Mesaba begins sending out recall letters to furloughed pilots for
a Feb 17th class.

Thank You.

Well you are 0 for 1 so far dude, I wish you the best of luck with the rest of your predictions

 

[xjhawk]

tomorrow is when the bankruptcy deal is finalized in court, any announcement will come after that. That is right from B.P himself in FA recurrent (word travels fast when you live with a FA. Oh, he was wise enough to mention that "whoever they announce to get the new planes".

 

[n32jk]

The payscale now goes to years 19-20 of service... DOS the rate was $93.97. The FO rate of course, is still at 7-8 yrs... wouldn't want to give those guys who are topped out as FOs anymore cash!


FO

Thanks I am assuming that was original DOS not the agreement post BR

 

[flap operator]

No, this is the rate from the concessionary agreement.


FO

 

[ImbracableCrunk]

1530 today MSP time is when the bankruptcy hearings start. Maybe we'll hear something interesting come out of that. . .

 

[SEVEN]

Well you are 0 for 1 so far dude, I wish you the best of luck with the rest of your predictions

Patience my friend.

 

[gnx99]

1530 today MSP time is when the bankruptcy hearings start. Maybe we'll hear something interesting come out of that. . .

Hopefully the court documents get posted somewhere.

http://www.w2.mnb.uscourts.gov/cgi-...onthvalue=01&dayvalue=17&DictType=calendarday

 

[Spinn555]

1631....and all is calm.

 

[DoinTime]

Patience my friend.

Patience for what? Next Tuesday?

 

[YourPilotFriend]

Delayed..........

 

[Hulk Hogan]

Merger issues??? (with dal?)

 

[JamesD]

Check out the judges calender for the 30th

[

 

[gnx99]

Check out the judges calender for the 30th

[

There's other stuff on Jan 19th, Jan 23rd, Feb 1st, Feb 2nd, and Feb 6th. Today's thing looked the most important though.

 

[Hulk Hogan]

Mesaba Delays Filing Reorganization Plan
Wednesday January 17, 6:49 pm ET

MINNEAPOLIS (AP) -- Mesaba Aviation Inc. delayed filing its reorganization plan on Wednesday, but said its planned acquisition by Northwest Airlines Corp. was still on track.
After Wednesday other parties, such as Mesaba's creditors, can file their own reorganization plan for the bankrupt feeder airline for Northwest.
Northwest had said previously that it plans to acquire Mesaba in exchange for giving Mesaba a $145 million unsecured claim in Northwest's bankruptcy case.
Northwest didn't comment on the delay Wednesday, but said its earlier statements that it plans to acquire Mesaba still hold true.
I don't get it.

 

[ImbracableCrunk]

The delayed reorganization is to be unleashed tomorrow.
Mesaba creditors seek fast sale of claim

Mesaba creditors want fast action on sale of Mesaba's claim against NWA. They fear delay may reduce their return.
By Liz Fedor, Star Tribune
Last update: January 17, 2007 – 8:34 PM



Bankruptcy claims in the Northwest Airlines case have been selling at levels close to their face values, so an attorney for the Mesaba Airlines creditors committee said Wednesday that he wants the Mesaba claim against Northwest to be sold quickly.Tim Robinson, who represents Mesaba's creditors, told U.S. Bankruptcy Judge Gregory Kishel in Minneapolis that the creditors favor a short sale process because they are worried the market for claims in the Northwest bankruptcy could "move south."
In recent days, Robinson said, some Northwest claims were sold in the "mid 90s," referring to the percentage of value being realized per dollar owed.
A few weeks ago, the International Association of Machinists and Aerospace Workers (IAM) locked in a sale price of 86.5 cents on the dollar for part of the union's bankruptcy claim against Northwest. Stephen Gordon, an IAM official, said he is expected to meet with Northwest on Friday to discuss distributing the proceeds of the IAM's $36 million sale to its members.
Mesaba's claim against Northwest, which Northwest has valued at $145 million, is the "largest asset" in Mesaba's bankruptcy, Robinson said.
On Wednesday, Kishel approved the creditors' request to pay Imperial Capital, a financial adviser, for marketing the Mesaba claim.
Northwest said in its reorganization plan that it intends to grant unsecured creditors new stock in the restructured company.
Mesaba was expected to file its plan of reorganization with the bankruptcy court Wednesday. Mesaba spokeswoman Elizabeth Costello said the filing was postponed until Friday.
Northwest disclosed last month that it plans to acquire Mesaba. A key element of the transaction is using Mesaba's claim against Northwest to satisfy Mesaba's creditors.
Robinson said Wednesday it will take a few months to determine the size of the Mesaba creditors' pool for allowed claims.
Liz Fedor • 612-673-7709 • [email protected]

 

[ImbracableCrunk]

3pm Central is the next court hearing. Does anyone know if this is the venue for announcing the reorganization plans?

 

[xjhawk]

something soon, the waiting is killing me, the thing is, people will still be pissed.

 

[YourPilotFriend]

something soon, the waiting is killing me, the thing is, people will still be pissed.

Keep waiting buddy, the storm doesn't end till mid-summer.

 

[profit]

Keep waiting buddy, the storm doesn't end till mid-summer.

Why, what NOW?

 

[Hulk Hogan]

Mid-summer is the expected time to exit bk. The waiting sucks...worse is the delay with no reason why. According to the tribune article sounds as though they will file their plans today. who knows though.

 

[XJohXJ]

Anything to funnel an extra nickle into the corporate overlords' pockets. Besides, villagers just drink and sleep in the winter, anyway, right? What's the rush?

 

[Hulk Hogan]

Any news from the hearing today?

 

[Whataboutbob]

Tribune says maybe details will be made public next week, (maybe). Whats one more week?

 

[ImbracableCrunk]

http://www.startribune.com/535/story/948207.html

 

[Hulk Hogan]

Yeah, I guess you're right. Who in their right mind would want to plan their future. I'd much rather live day to day having no real path to follow. Anyway, I'm sure it is far to complicated for my simple pilot mind. cya

 

[YourPilotFriend]

And by public, they mean its pilots.

 

[n32jk]

No, this is the rate from the concessionary agreement.


FO

Thanks again for the info......

 

[saabservant]

I hear nwa alpa is throwing sand in the gears. Of course. Once again, our careers used as bargaining fodder. Or maybe they are acting on our behalf, being altruistic, a band of brothers? Ha ha ha ha ha ha ha ha ha

Maybe they are, just too jaded to believe what i cannot see(God excepted, of course).

 

[xjhawk]

how is alpa dealing with this? whats your point