“Ends,” as in the ending of airlines. Proving that people will make book on anything is a gambling web site called PaddyPower.com, displaying odds on the “Next airline to go bust,” defined as “the next airline to go into official administration and cease operating (ground all its fleet).” Monarch and BMIbaby are leading the pack at 4-to-1. The highest listed odds, at 1,000-to-1, is Air Force One.
The site doesn’t list Mesa Air, which filed for bankruptcy protection on Jan. 5. Mesa does not plan to “cease operating (ground all its fleet),” but is seeking to divest itself of lease obligations for unneeded aircraft. From Mesa’s press release:
To ensure the Company operates without interruption, Mesa is seeking authority from the Court to continue all of its normal operations. The requests include authority to continue to pay employee salary and benefits, fulfill code-share partner agreements, honor customer programs, and pay vendors and suppliers for post-petition goods and services. These requests are standard and the Company anticipates receiving approval in the next few days. Vendor and supplier invoices incurred prior to the commencement of the Company’s Chapter 11 case that have not been paid will be resolved through the Company’s Plan of Reorganization which requires Court approval and has yet to be submitted.
