Assets vs liabilities is the main thing....as long as the creditors get paid in full. Also, maintaining profitability, or strong expectation of it. Most BK's I wouldn't touch other than for quick in & out flips, because their balance sheets look horrible. With Mesa, assets ARE greater than liabilities, but there are other things we would want to happen like winning the Delta litigation, another code-share agreement, oil costs to stabilize, profitable MOR's etc.
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