Mesa Air Group files for Chapter 11 bankruptcy
http://www.starbulletin.com/news/bulletin/80688267.html
Gee, what a surprise ..... so-called "predatory" Mesa is in financial crisis. Now that Aloha Airlines is gone, it seems the only big player left is Hawaiian Air. (Yes, supposedly the Hawaii business part of Mesa will be unaffected for now, but I'd surmise it is only a matter of time.)
http://www.starbulletin.com/news/bulletin/80688267.html
Mesa, a low-cost carrier which at one time dropped one-way interisland fares to a rock-bottom $1, has had a rocky existence in Hawaii.
In April 2008, Mesa paid Hawaiian Airlines $52.5 million to settle a lawsuit brought by Hawaiian that alleged Mesa had misused confidential Hawaiian information obtained during Hawaiian’s bankruptcy in 2004 to enter the Hawaii market in 2006.
And in November 2008, Mesa settled a 2007 lawsuit with Yucapia Cos., Aloha’s former controlling shareholder, in which Aloha accused Mesa of misusing confidential information that Mesa obtained as a potential investor during Aloha’s bankruptcy. Aloha also accused Mesa of predatory pricing designed to run Aloha out of business. Mesa paid Yucaipa $2 million and issued Yucaipa 10 percent of Mesa’s common stock.
By that time, Aloha, which had filed for its second bankruptcy on March 20, 2008, was out of business, calling it quits 11 days later
In April 2008, Mesa paid Hawaiian Airlines $52.5 million to settle a lawsuit brought by Hawaiian that alleged Mesa had misused confidential Hawaiian information obtained during Hawaiian’s bankruptcy in 2004 to enter the Hawaii market in 2006.
And in November 2008, Mesa settled a 2007 lawsuit with Yucapia Cos., Aloha’s former controlling shareholder, in which Aloha accused Mesa of misusing confidential information that Mesa obtained as a potential investor during Aloha’s bankruptcy. Aloha also accused Mesa of predatory pricing designed to run Aloha out of business. Mesa paid Yucaipa $2 million and issued Yucaipa 10 percent of Mesa’s common stock.
By that time, Aloha, which had filed for its second bankruptcy on March 20, 2008, was out of business, calling it quits 11 days later
Gee, what a surprise ..... so-called "predatory" Mesa is in financial crisis. Now that Aloha Airlines is gone, it seems the only big player left is Hawaiian Air. (Yes, supposedly the Hawaii business part of Mesa will be unaffected for now, but I'd surmise it is only a matter of time.)
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