APA $40 Million+ debt forgiven in this TA?

[ZMAN777]

Can anyone confirm that the debt owed by APA (to the tune of $40 million +) to AMR is being forgiven in return for this TA? Has this come out at the road shows?

Just curious if this is in fact the case.

Cheers,
Z

 

[Skyhungry]

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On 4/9/2003 2:38:34 PM ZMAN777 wrote:

Can anyone confirm that the debt owed by APA (to the tune of $40 million +) to AMR is being forgiven in return for this TA? Has this come out at the road shows?

Just curious if this is in fact the case.

Cheers,
Z

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Fact: The balance of the 40 million owed will be forgivin. What the remaining balance is I do not know, but it is substantial. I guess a good question would be what did that cost us in jobs or pay?

 

[AA80Driver]

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On 4/9/2003 3:39:29 PM Skyhungry wrote:

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On 4/9/2003 2:38:34 PM ZMAN777 wrote:

Can anyone confirm that the debt owed by APA (to the tune of $40 million +) to AMR is being forgiven in return for this TA? Has this come out at the road shows?

Just curious if this is in fact the case.

Cheers,
Z

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I believe the debt was forgiven. But, seeing as the TA is valued at 860-880m in conscessions, I hardly thing APA pulled one over on AMR. APA had paid 23m on the fine and they had arranged a payment plan on the balance at around 1.3m a year. I think they still owed slightly under 20m.