Since a portion of the Company’s revenue is fixed due to the structure of the United capacity purchase agreement, the impact of the COVID-19 pandemic on the Company’s financial position may be partially mitigated or offset.
Also since they're locked into their agreement till 2023, I'd say their on pretty solid ground:
3. Capacity Purchase Agreement with United
In February 2017, the Company entered into the United capacity purchase agreement to operate up to 65 CRJ-200 regional jet aircraft. In October 2020, the Company entered into an amendment to the United capacity purchase agreement. The initial term of the agreement is through February 2023, with an option at United’s election to extend for a period of no less than two years (and up to three years, in its discretion) and a second option at United’s election to extend for an additional two-year period, subject to mutual agreement by the Company and United as to compensation. See Note 14 for additional information.
And...on top of that almost all revenue is from the United purchase agreement...this is a very big deal:
Substantially all the Company’s revenues for the three month periods ended March 31, 2020 and 2019 were derived from the United capacity purchase agreement.
EVERYTHING I POST IS MY OPINION ONLY
ALWAYS BUYING AND SELLING, THERE IS NO NEED TO ASK
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