March 18, 2012

Direct Air Assets and Liabilities

Their bankruptcy says assets  $500,000 to $1,000,000, while liabilites are $10,000,000 to $50,000,000.   First question what assets do they have?  They got none!!!!   Other then an escrow account for sold tickets???

Liabilities $10,000,000 to $50,000,000?? WTF!!!  That is kind of a wide spread , how are you possibly unsure whether you owe $10,000,000 or maybe I owe $50,000,000!!!      Right now ORH can affford to take a chance on another public charther or airline (Vision), unless it is a publicly traded company that we are feel secure with their finances and are willing to buy a ticket.

Does anyone have any doubts that the escrow account will be our of money this week and that there will be millions owed to actual "ticket" holders , not "voucher" and "membership" holders.  Dont worry thought we have a $200,000 bond to help the.  $200,000!!!!!    A bond of this amount was a drop in the bucket...    

In the short term, we need Allegiant desperately!


mike said...

the spread of dollars is standard when filing initial form.

There completed form is here they just checked the corresponing boxes.

Bill Randell said...


I stand corrected. I looked at the link that was referenced and there simply is a box that say 10-50 million for liabilities that is checked off as part of the initial filing.

I should actually delete this post since it makes no sense now? But I will leave it up.