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I have never seen an airline use a bailout to perform a restructure. At best they wasted the cash on giving an exec a golden parachute.
by FridgeSeal 2y ago
I have never seen an airline use a bailout to perform a restructure. At best they wasted the cash on giving an exec a golden parachute.
- slt2021 2y agoIt is routine procedure, the very purpose of chapter 11 is to protect the company from liabilities and negotiate a new structure where both shareholders and bondholders and employee unions take a haircut in order to salvage the company and its business model. Company will never recover from chapter11 Unless bondholders, employees, union, all take a haircut and build a new economics(cost structure) for existing business model