They are looking to unload around 70 planes...I don't know how many leases/contracts that entails off the top of my head - it is all in MC's link to the case summary...and I don't have those figures in front of me either...
Basically, Mesa's gotta get rid of these planes and leases with favorable terms and settle up the delta issue...
Right now Assets are Greater than liabilities...the balance sheet looks good imo...just like other Q's - monitor the progress of the mor's and court filing as well...
***THEY ARE DOING THIS WITHOUT DIP FINANCING...THIS IS REALLY BIG IMO...ALSO THE DEBT FOR EQUITY SWAP THAT HAS ALREADY HAPPENED WITH BONDHOLDERS AT @ .20ISH PPS IS BIG TOO...
It is my opinion that this is a good risk-reward distressed asset / chapter 11 play....
After reading MC's link I bought in prior to bk - so I am pre and post holder...
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