XJ Claim Sale

[IbeFlyenhye]

Pardon me for being out of the loop, but what is the "buzz" on the XJ/ALPA Claim Sale. In or out... Pros/Cons...

 

[saabservant]

Mesaba just sold it's claim in the nwa bankruptcy for 86 cents on the dollar, which may bring in about 120 mill. Last estimate of total claims against mesaba in it's bankruptcy is about 90 mill.
Unsecured creditors may get 100 cents, and MAIR holdings walks away with 25-30mill. Smiling Carl Pohlad wins again, even if he's too senile to know it now!
Of course, it is a long time until actual reorganization and payout (Aril 07) so anything can happen.
We will soon be opting in (or not) to sell our claims, last estimate is maybe they might go for 90 cents.?
14.2 million divided by about 650 pilots, times .90. Not bad. Hope it holds up.

The legal beagles at alpa did well for us on the claim part of the concessionary TA....