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 02.19.18

Airborne-UnManned 02.20.18

Airborne 02.21.18

AMA Drone Report 02.22.18

Airborne 02.16.18

Airborne-YouTube

Airborne 02.19.18

Airborne-UnManned 02.20.18

Airborne 02.21.18

AMA Drone Report 02.22.18

Airborne 02.16.18

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 02.21.18: AEA Report, Aerocor Eclipse Program, WWII Airman Recovered

Also: Gulfstream To Expand, Med-Trans Partners, FAA SAIB On AT-6, Passenger Gas Curtails Flight The AEA has released its 2017 year-end Avionics Market Report. Total worldwide busin>[...]

Airborne-Unmanned 02.20.18: USMC InstantEye, Raleigh Reconsiders, Battle Drones

Also: Fortem DroneHunter, Solar-Powered Rover, Drone Mkt Worth $48.88B, MQ-25 Partnerships InstantEye Robotics has received a substantial order from PMA-263, the Navy and Marine Co>[...]

AMA Drone Report 02.15.18: AMA Expo East, Skydio R1, TSB Canada Report

Also: DJI Knowledge Quiz, GoFly Competition, Drone ID Rules Coming, FAA Unenthusiastic About Prosecuting? The Academy of Model Aeronautics will host the annual AMA Expo East at the>[...]

AMA Drone Report 02.22.18: AMA Expo!, Raleigh Update, UAV v Helo... or Not?

Also: AMA Active In Counseling Gov'ts, Intel Drone Light Show, Drone Park Planned, ALPA Attacks Unmanned Don’t forget... The annual AMA Expo East starts at the Meadowlands Ex>[...]

AMA Drone Report 02.22.18: AMA Expo!, Raleigh Update, UAV v Helo... or Not?

Also: AMA Active In Counseling Gov'ts, Intel Drone Light Show, Drone Park Planned, ALPA Attacks Unmanned Don’t forget... The annual AMA Expo East starts at the Meadowlands Ex>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC