C
chipmunn
Guest
Dear IAM-M Member:
The TPG MOU and CSFB & BOA DIP financing agreements require target concessions to get the $500 million DIP funding. The same thing holds true for the $1.2 billion ATSB federal loan guarantee and TPG emergence financing.
Without the IAM-M target numbers to meet the contractual requirements above, which require a $154 million annual IAM-M cost reduction, how can the company gain access to these funds to continue to operate and reorganize?
The bankruptcy courts primary responsibility is to the creditors, both secured and unsecured. Without the business plan cost savings identified in the DIP financing plan and the ATSB loan guarantee applications, how can the airline continue to operate without these financial resources?
If you were going to prepare written and oral arguments against your September 10 S.1113 hearing, where the company is seeking relief from your CBA, how would you prepare your defense for a company in default?
By voting no and understanding you will be summoned to appear against this motion, what is your motivation? For one to vote no, I believe the voter must believe they can get a better deal. Would you explain how this would now occur?
What would you do to convince Judge Mitchell you deserve more than the company's final proposal instead of the bankruptcy court imposing deeper cuts, per the company's request?
I ask these questions and seek a mature discussion to understand your thought process and motivation.
Thanks.
Chip
The TPG MOU and CSFB & BOA DIP financing agreements require target concessions to get the $500 million DIP funding. The same thing holds true for the $1.2 billion ATSB federal loan guarantee and TPG emergence financing.
Without the IAM-M target numbers to meet the contractual requirements above, which require a $154 million annual IAM-M cost reduction, how can the company gain access to these funds to continue to operate and reorganize?
The bankruptcy courts primary responsibility is to the creditors, both secured and unsecured. Without the business plan cost savings identified in the DIP financing plan and the ATSB loan guarantee applications, how can the airline continue to operate without these financial resources?
If you were going to prepare written and oral arguments against your September 10 S.1113 hearing, where the company is seeking relief from your CBA, how would you prepare your defense for a company in default?
By voting no and understanding you will be summoned to appear against this motion, what is your motivation? For one to vote no, I believe the voter must believe they can get a better deal. Would you explain how this would now occur?
What would you do to convince Judge Mitchell you deserve more than the company's final proposal instead of the bankruptcy court imposing deeper cuts, per the company's request?
I ask these questions and seek a mature discussion to understand your thought process and motivation.
Thanks.
Chip