$232 Million?

[E-TRONS]

Lets see, We lost $232 million in the 3Q. Here is a riddle: What did UAIR pay MESA to operate 50 Rj's for them???

$232,000,000

What a coincidence indeed :down: :down:

 

[WestCoastGuy]

And how many millions were handed over to cover the BK filing? Lawyers dont come cheap...just like CEO's

 

[BoeingBoy]

"to cover the BK filing?"

One of the sheets in the "Financial Statement" is called "9. Payments Related to Debt Counseling or Bankruptcy" and lists payments within 12 months of filing.

The total......$15.8 million.

But that isn't all to lawyers.

Jim

 

[WestCoastGuy]

Thanks Jim...
15.8 mil? I thought it would be much more than that.

 

[BoeingBoy]

I'm pretty sure it is now. Remember that was paid prior to the BK filing. Last time we went thru this, I think the total was about $112 million when all was said and done.

Jim

 

[WestCoastGuy]

That figure sounds more in the ball park for a BK filing of this scope. Are those funds set aside already , or part of the "unrestricted" cash on hand?

 

[BoeingBoy]

WestCoastGuy,

I think it's a day-to-day expense paid out of cash on hand.

If you're bored sometime, look thru the list of Docket #'s for either "Application to Employ ..." or "Affidavit of Ordinary Course Professional ...". Those are the folks all the money goes to, and they're still filing more with the court.

Jim

 

[FWAAA]

The 3Q results showed $12 million as Reorganization Items, most of which was probably professional fees (lawyers, bankers, accountants, consultants, etc) for the last 20 days of September. Look for a much larger accrual in the fourth quarter.