I've been under the impression that was the plan. Acquire Songbird and operate it as a subsidiary flying 737-400s until the FAA is OK with the operation again. When given the green light by the feds, add widebody aircraft to the certificate and maybe add Stewart as an operating location. I believe all this can be done with Songbird DBA USGlobal. They have to keep the words "Songbird Airways" on the fuselage of the aircraft somewhere easily visible to the naked eye. At some future point, move the certificate directly to USGlobal. The DOT will be watching all this very carefully to ensure they still meet the financial fitness requirements. No rubber stamp there. Of course, it would be useful to have USGlobal lay all these steps out for the shareholders.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.