Delta Creditors Committee May Ask US Airways to Extend Deadline

This is a small group of 9 bondholders/hedge funds that have claims of appx. $2.3 billion, or about %15 of the total claims. Which is to say, these guys are in it for the quick buck, hence the reason they were all over the first LCC offer.

There is absolutely no evidence that the Unofficial Creditors Committee has any investment horizon different from those on the official Creditors Committee. It is simply more "facts be damned" Delta propaganda.

Presumably, everyone who will be issued stock (except perhaps the pilots union) will be trying to make a buck. Of course, some folks on Wall Street are better than others at doing that, and it would seem that the "unofficial" creditors bought AFTER the ship had already sunk, and therefore are in a position to make money on this deal, as opposed to just lose less.

There have already been some media reports indicating that most of the "new" bondholders tend to be longterm investors (well, at least as "longterm" as anyone really invests in airlines). As has been mentioned, one is a major USAirways shareholder. It is hardly surprising that individuals who made money with Parker before are trying to make more money with him on this deal. That's pretty much how our capitalistic system works. -
 
There is absolutely no evidence that the Unofficial Creditors Committee has any investment horizon different from those on the official Creditors Committee.
Actually, there's no absolute evidence of anything in or around this merger - it's all speculation at this point. Even the $5 billion is not concrete since there are enough loopholes in the fine print of the US offer that the whole deal could unravel even if the various stakeholders agree to accept the merger offer.

Speculation can be fun, though....

Jim
 

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