National gets new lease on life?

CONGRATS TO ALL THE NATIONAL EMPLOYEES. Its a relief to see you guys make it. As a Passenger and hopeful dispatcher new hire in the future, I'm happy to see you all keep your jobs, and that way I can have my butt stapled to the bottom of the seniority list![:bigsmile:] Personally I hope you guys can expand to MCO like you have in MIA or start a code share with Airtran for North south east coast coverage. I think it would be a perfect marrage...and Airtran could use the East West service...


[:bigsmile:]
 
I will be waiting until the bankrupcy hearing on Friday to hear who these 'mystery investors' are. The only thing concrete in today's news is the $30mil from Wells Fargo. If the rest is simply moving debt to equity, I would have to think they will go through $30mil rather quickly. But I will have to wait til Friday to see what happens in BK court. Best of luck to the employees who can hopefully reduce their pepto consumption! [;)]
 
Hey, where can I invest in Red Rock? They have the best business plan and best management in the industry.

National won't see 2003.
 
I believe N7 owes various creditors like McCarren airport, a total of 30 million. I don't see how this bought them much time. Particularly when the industry is entering a traditional slow season anyway. Cash flow has been king and it looks like the king will be leaving the house
 
How much in outstanding current liabilities do they have? Somewhere I read where they currently owe McCarran like $6 million! Im sure there are other airports in the same situation. I guess the creditors had a severely conscribed choice as a BK would have left a lot of the "debt for equity" partners with nothing...Nothing later beats nothing now as it doesnt have to be charged against current earnings! I would hope they would have set up a charge for "uncollectable debts" but that category is clearly an interpretation and there are vastly different interpretations in accounting departments and board rooms.
 
Even if N7 somehow gets out of BK, what are they changing in their business plan to make a profit? They have the same plan that they always did. Try to compete in the lowest yield hub in between the two largest low-fare airlines (LUV and AWA). Still not a good plan...