Yep, that old post of mine sums up SUNEQ's predicament and is worth repeating:
"Doubtless SUNE overpaid for recent acquisitions. Dumb. Just as they weren't mindful of the debt load they were taking on. Book assets no doubt far exceed current market value. You will see impairments.
I've followed many of these junk BKs. IHUB players always get crushed in them. Very risky and the upside is limited.
(American Air was a unique situation. It was saved by an upturn in travel at the end of the Great Recession and the collapse of fuel costs)."
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