Northwest Shareholders Fight Reorganization Extension | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 12.11.17

Airborne-Unmanned 12.12.17

Airborne 12.06.17

AMA Drone Report 12.07.17

Airborne 12.08.17

Airborne-YouTube

Airborne 12.11.17

Airborne-Unmanned 12.12.17

Airborne 12.06.17

AMA Drone Report 12.07.17

Airborne 12.08.17

Thu, Mar 15, 2007

Northwest Shareholders Fight Reorganization Extension

Say Airline Has Had More Than Enough Time On Matter

Now it's our turn... or it should be, anyway. Some shareholders in bankrupt Northwest Airlines are fighting the carrier's request to extend the exclusivity period on its Chapter 11 reorganization plan.

The Associated Press reports that period is set to lapse Friday -- after which time other parties may submit their own plans to bring Northwest out of bankruptcy. As Aero-News reported, lawyers for the Eagan, MN-based airline have asked for an extension until June 29 -- which, not by coincidence, is around the time Northwest expects to exit Chapter 11.

This week, a group of shareholders told a New York bankruptcy judge Northwest has already had 18 months to sort itself out, and asked that the extension be tossed out. The investors are concerned Northwest's plan doesn't adequately explore what the airline would be worth if Northwest chose to merge with another airline while still in Chapter 11.

"All indications point to consolidation among the legacy airlines, but the Debtors refuse to exploit this opportunity," the shareholders wrote. "Terminating exclusivity -- and allowing all qualified bidders and plan proponents due diligence -- will ensure that the estate does not lose this opportunity."

A hearing on the matter is set for Thursday.

FMI: www.nwa.com

Advertisement

More News

Airborne-Unmanned 12.05.17: Mercedes Drone Deliveries, ALPA v UAVs, Tyndall RPAs

Also: ESA Eyes High-Altitude Aerial Platforms, Coptrz Provides UAS, Amazon Patent, UAS Integration In a global first, online orders were delivered in Zurich between September 25 an>[...]

AMA Drone Report 12.07.17: AMA Supports GoFly, ALPA v UAS, EU Drone Regs

Also: Drones Hunt Pythons, MI State Regs, Thanksgiving Drone Flying, Drone Collision Report A little outside our normal coverage responsibilities, nonetheless, we’re intrigue>[...]

Airborne 12.11.17: Pilatus PC-24 Cert, VerdeGo Aero, Canada Nixes Hornets

Also: Engine Coatings Facility, Wrong Runway At JFK, ATR 72-600 Flight Sim, Regional Airline Association Pilatus has obtained type certificates from the FAA and EASA for the first >[...]

Airborne 12.11.17: Pilatus PC-24 Cert, VerdeGo Aero, Canada Nixes Hornets

Also: Engine Coatings Facility, Wrong Runway At JFK, ATR 72-600 Flight Sim, Regional Airline Association Pilatus has obtained type certificates from the FAA and EASA for the first >[...]

Airborne 12.08.17: AMA Joins GoFly, Mackay Trophy Heroes, KSMO To The Rescue

Also: Orion Parachute Test, Workforce Shortage Issues, Cygnus Departs ISS, Myrtle Beach AirShow AMA has partnered with Boeing to support GoFly, an incentive competition that encour>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC