Can This Happen Here

[mweiss]

Seems like the older I get, the more "senior moments" I have. Now where am I and what was I doing.... :huh:

As long as you only do that here and not in the cockpit, OK? 😉

 

[USFlyer]

I don't believe the EMB-170s are classified as assets from a creditor's standpoint. They are leased (unless something has since changed) and thus US has no equity in the aircraft.

 

[700UW]

First of all I do not owe the board an apology.

This happened at Swissair, so I was asking the board if they believe it can happen here.

And Jim, Corsair ASSUMED Swissair's long range flying.

And according to the FAA database:

801MA, 802MD, 803MD, 804MD, 807MD, 808MD, 811MD, 812MD, 814MD
were owned by US, then sold to Wells Fargo and leased.
US paid for the planes then did a sale/lease buy back, where is the money?

805MD, 806MD, 809MD, 810MD, 815MD are showing owned by US Airways.

And Midway Airlines was in bankrupty and Mesa bought the whole company and assumed the leases on their CRJs.

Even a leased plane is an asset in Bankruptcy.

 

[mweiss]

US paid for the planes then did a sale/lease buy back, where is the money?

When were they sold back? We should be able to see exactly where the money is in the 10-Q.

Even a leased plane is an asset in Bankruptcy.

Only under a very specific set of circumstances. The lease must be transferrable, and the market value of a new lease for the same aircraft must be higher than the value of the existing lease. Even then, the asset component is generally pretty small.

 

[700UW]

Mwiess,

It must have been very recent because as of a month ago, I checked the FAA database and they all were being shown to be owned by US.

 

[mweiss]

Well, then, perhaps we'll see it in the annual in a few days. If not, it'll be in the Q3 report. Then we'll know the answer to your question.

 

[BoeingBoy]

An update on the SwissAir saga....

Swiss Shares Plunge As Reports Of Failed Business Plan Spread
By Jens Flottau
08/04/2004 10:09:59 AM

Swiss's shares dropped 18% Monday after more details emerged about the possibility of additional cost-cutting measures and the company's liquidity level.

Article

Jim

 

[BoeingBoy]

Reference the above link, there one or two articles posted each week day from Aviation Week's various publications. These are available without subscribing to any of those publications and some make for interesting reading.

For example, for a look at the outsourcing issue from a somewhat different angle, read the article "Faster, faster, faster" under Maintenance & Overhaul.

The main link to the site (AviationNow.com) is

AviationNow.com

Jim

 

[FA Mikey]

wrong posting by me

 

[chele5]

Just a question.....anyone remember the guy who owned EA and CO and then sold EA's assets to CO for an unbelievable note and slowly drained EA of everything?

Our situation with MDA & US does not have the exact same 'ring' to it - but it seems strangly familiar. Any ideas? Can U file 7 and then, after lets say 72 hours or so, reopen as MDA? This is just rumor - not fact I only wanted to see if anyone thought it had a possibility.

 

[Light Years]

Not to toot my own horn, but I was wondering about this type od scenario a long time ago...

MDA-US/SwissAir/Crossair

And Here

And here too...

Theres alot of interesting discussion about this very scenario, and why it could or could not happen, on these threads.

 

[mweiss]

It probably could happen, but it would require some serious needle threading to make it happen.