Is Aa Going To Get Stuck Paying For This?

[eolesen]

First off...give up the "wholly owned" crap b/c that is not true.

Right. WN's just the sole DIP financer at this point, since they're still in bankruptcy. But ATA owns nothing at this stage, and pretty much operates at WN's will. Take WN out of the picture, and the wheels come off ATA's ability to emerge from bankruptcy fairly quickly.

Once ATA exits bankruptcy, WN gets approximately 27.5% of the new stock, plus whatever else they choose to purchase on the market or get in exchange for any additional DIP funds provided to keep ATA operating.

Then there's the former SWA exec who is now calling the shots (John Dennison) plus other former SWA folks who have been injected into management at ATA.

But yes, technically they call their own shots, but anyone who believes that they operate with any serious degree of autonomy is even more deluded than the people who believe that CO's RJ's to IAH pose serious and meaningful competition to WN's HOU service.

 

[Ch. 12]

Right. WN's just the sole DIP financer at this point, since they're still in bankruptcy. But ATA owns nothing at this stage, and pretty much operates at WN's will. Take WN out of the picture, and the wheels come off ATA's ability to emerge from bankruptcy fairly quickly.

Once ATA exits bankruptcy, WN gets approximately 27.5% of the new stock, plus whatever else they choose to purchase on the market or get in exchange for any additional DIP funds provided to keep ATA operating.

Then there's the former SWA exec who is now calling the shots (John Dennison) plus other former SWA folks who have been injected into management at ATA.

But yes, technically they call their own shots, but anyone who believes that they operate with any serious degree of autonomy is even more deluded than the people who believe that CO's RJ's to IAH pose serious and meaningful competition to WN's HOU service.

You got some #'s right but missed the context of them, once again. WN will only get 27.5% of NON-VOTING stock if they ante up an extra $30M upon ATA's emergence. Again...NON-VOTING. This is a financial decision that WN would hope to capture returns from dividends and share price...no rights to vote. And where do you get the "WN gets whatever they choose to purchase..." stuff. Let me attach the real document...once again posting facts b/c you will not. .ATA DIP Financing (WN)

Now are you going to keep spinning this thing to keep away from the original topic as you so well do or do you want to get back to the DFW/AMR love fest that is costing AMR $$$. That is $$$ that it now looks like is possibly being eyed for more concessions