Attached files
file | filename |
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EX-99.1 - MONTHLY OPERATING REPORT - MESA AIR GROUP INC | exhibit99-1.pdf |
8-K - 8-K - MESA AIR GROUP INC | body8k.htm |
Exhibit 99.1
UNITED STATES BANKRUPTCY COURT |
SOUTHERN DISTRICT OF NEW YORK |
Debtors: Mesa Air Group, Inc., et al. (1) |
Case Number: Jointly Administered 10-10018 (MG) |
Monthly Operating Report for the Period: |
Month ended April 30, 2010 |
Federal Tax ID # 85-0302351 |
Debtors' Address: |
410 N 44th Street Suite 700 |
Phoenix, AZ 85008 |
Monthly Net Income/(Loss): ($1.612) million |
Debtors' Attorney: |
Pachulski, Stang, Ziehl & Jones LLP |
780 Third Avenue, 36th Floor |
New York, NY 10017-2024 |
Telephone: (212) 561-7700 |
Fax: (212) 561-7777 |
http://www.pszjlaw.com |
Report Preparer: Mesa Air Group, Inc. |
The undersigned, having reviewed the attached report and being familiar with the Debtors' |
financial affairs, verifies under the penalty of perjury that the information contained therein is |
complete, accurate and truthful to the best of my knowledge. (2) |
Date: May 19, 2010 /s/ Mike Lotz |
Mike Lotz |
President and Chief Financial Officer |
(1) See next page for a listing of Debtors by case number. |
(2) All amounts herein are unaudited and subject to revision. The Debtors reserve all rights to revise this report. |
MESA AIR GROUP, INC., ET AL. | ||
MONTHLY OPERATING REPORT | ||
(1) The Debtors in these jointly administered cases are as follows: | ||
Case | ||
Debtor Name
|
Number
|
|
Mesa Air New York, Inc. | 10-10017 | |
Mesa Air Group, Inc. | 10-10018 | |
Mesa In-Flight, Inc. | 10-10019 | |
Freedom Airlines, Inc. | 10-10020 | |
Mesa Airlines, Inc. | 10-10021 | |
MPD, Inc. | 10-10022 | |
Ritz Hotel Management Corp. | 10-10023 | |
Regional Aircraft Services, Inc. | 10-10024 | |
Air Midwest, Inc. | 10-10025 | |
Mesa Air Group Airline Inventory Management, LLC | 10-10030 | |
Nilchi, Inc. | 10-10027 | |
Patar, Inc. | 10-10028 |
Case Number: 10-10018 (MG) (Jointly Administered)
- 2 -
MESA AIR GROUP, INC., ET AL. | |||||
SCHEDULE OF DISBURSEMENTS | |||||
Disbursements for | Disbursements for | Disbursements for | Disbursements for | ||
Case | month ended | month ended | month ended | January 5, 2010 to | |
Debtor Name
|
Number
|
April 30, 2010
|
March 31, 2010
|
February 28, 2010
|
January 31, 2010
|
Mesa Air New York, Inc. | 10-10017 | - | - | - | - |
Mesa Air Group, Inc. | 10-10018 | 1,688,784 | 1,348,840 | 1,244,806 | 1,128,964 |
Mesa In-Flight, Inc. | 10-10019 | - | - | - | - |
Freedom Airlines, Inc. | 10-10020 | 2,339,613 | 2,275,702 | 1,945,715 | 1,137,194 |
Mesa Airlines, Inc. | 10-10021 | 45,289,526 | 77,630,776 | 30,568,004 | 20,791,947 |
MPD, Inc. | 10-10022 | 140,811 | 150,175 | 156,100 | 102,356 |
Ritz Hotel Management Corp. | 10-10023 | - | - | - | - |
Regional Aircraft Services, Inc. | 10-10024 | 526,302 | 262,892 | 519,981 | 575,558 |
Air Midwest, Inc. | 10-10025 | 21 | 2,249 | 147 | 195 |
Mesa Air Group Airline Inventory Management, LLC | 10-10030 | 8,900,924 | 7,614,996 | 5,833,085 | 811,717 |
Nilchi, Inc. | 10-10027 | - | - | - | - |
Patar, Inc. | 10-10028 | - | - | - | - |
Case Number: 10-10018 (MG) (Jointly Administered)
- 3 -
MESA AIR GROUP, INC., ET AL. | ||||
MONTHLY OPERATING REPORT | ||||
INDEX | ||||
Description | Page | |||
Condensed Consolidated Debtors-in-Possession Statement of Operations for the month ended | ||||
April 30, 2010 and filing to date | 5 | |||
Condensed Consolidated Debtors-in-Possession Balance Sheets as of April 30, 2010 | ||||
and all subsequent periods post-petition date | 6 | |||
Condensed Consolidated Debtors-in-Possession Statement of Cash Flows for the month ended | ||||
April 30, 2010 and filing to date | 7 | |||
Notes to the Condensed Consolidated Monthly Operating Report | 8 |
Case Number: 10-10018 (MG) (Jointly Administered)
- 4 -
MESA AIR GROUP, INC., ET AL.
The accompanying notes are an integral part of the financial statements.
(1)
For presentation purposes, the March flight operation expense has been adjusted from what was reported on the March MOR to properly
reflect the expense for nonoperating aircraft. The net adjustment between the two line items is zero. Case Number: 10-10018 (MG) (Jointly Administered)
- 5 -
MESA AIR GROUP, INC., ET AL.
The accompanying notes are an integral part of the financial statements.
Case Number: 10-10018 (MG) (Jointly Administered)
- 6 -
MESA AIR GROUP, INC., ET AL.
The accompanying notes are an integral part of the financial statements.
Case Number: 10-10018 (MG) (Jointly Administered)
- 7 -
MESA AIR GROUP, INC., ET AL. 1. Background and Organization General - Mesa Air Group, Inc. ("Mesa" or the "Company") is a
holding company whose principal subsidiaries operate as regional air carriers providing scheduled passenger and airfreight
service. As of April 30, 2010, the Company served 122 cities in 40 states, the District of Columbia, Canada, and Mexico and
operated a fleet of 113 aircraft with approximately 650 daily departures. Chapter 11 Reorganization Cases - On January 5, 2010 (the "Petition Date"), Mesa Air Group,
Inc. and its eleven subsidiaries (the "Debtors") filed voluntary petitions for relief under chapter 11 of the United States
Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York
(the "Court"). The Debtors continue to operate their businesses as "debtors-in-possession" under the
jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court. On
January 14, 2010, the Office of the United States Trustee for the Southern District of New York appointed a statutory committee of
unsecured creditors. 2. Basis of Presentation Condensed Consolidated Debtor-in-Possession Financial Statements - The unaudited
financial statements and supplemental information contained herein represent the condensed consolidated financial information
for the Debtors. The results of operations for the period from January 5, 2010 to January 31, 2010 were estimated based upon
estimates that included the use of statistical data, processed revenue, fuel purchases and a pro-ration of calendar days within the
month of January. Amounts presented in the unaudited Statement of Cash Flows for the period from January 5, 2010 to January
31, 2010 were based on estimated asset and liability balances as of the filing date and actual balances as of January 31, 2010, as
well as the aforementioned estimated results of operations for the period from January 5, 2010 to January 31, 2010. American Institute of Certified Public Accountants Statement of Position 90-7, "Financial
Reporting by Entities in Reorganization under the Bankruptcy Code" ("SOP 90-7"), which is applicable to
companies in chapter 11, generally does not change the manner in which financial statements are prepared. It does, however,
require that the financial statements for periods subsequent to the filing of the chapter 11 petition distinguish transactions and
events that are directly associated with the reorganization from the ongoing operations of the business. The Debtors' financial
statements contained herein have been prepared in accordance with the guidance in SOP 90-7. Further information concerning
the Debtors' accounting policies will be found in the footnotes to our Annual Report on Form 10-K for the period ended September
30, 2009 once filed and subsequent filings on Form 10-Q when filed with the United States Securities and Exchange
Commission. The unaudited consolidated financial statements have been derived from the books and records of the
Debtors. Certain financial information, however, has not been subject to procedures that typically would be applied to financial
information presented in accordance with generally accepted accounting principles in the United States of America ("U.S.
GAAP") and, upon the application of such procedures, the Debtors believe that the financial information will be subject to
changes. These changes could be material. The information furnished in this report includes primarily normal recurring
adjustments, but does not include all of the adjustments that typically would be made for quarterly financial statements in
accordance with U.S. GAAP. Certain prepaid balances and pre- and post- petition trade accounts payable balances are subject
to further review and reclassification. In addition, certain information and footnote disclosures normally included in financial
statements prepared in accordance with U.S. GAAP have been condensed or omitted. Therefore, this report should be read in
conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the
period ended September 30, 2009 once filed and subsequent filings on Form 10-Q when filed with the United States Securities
and Exchange Commission. The results of operations contained herein are not necessarily indicative of results that may be expected
from any other period or for the full year, and may not necessarily reflect the consolidated results of operations, financial position
and cash flows of the Debtors in the future. Case Number: 10-10018 (MG) (Jointly Administered)
- 8 -
Intercompany Transactions - Intercompany transactions between Debtors have been eliminated
in the financial statements contained herein. Property and Equipment, net - Recorded at cost net of accumulated deprecation. Taxes - Income taxes are accounted for under the asset and liability method. Deferred tax
assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in future years in
which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a
change in tax rates is recognized in income in the period that includes the enactment date. The Company records deferred tax
assets for the value of benefits expected to be realized from the utilization of alternative minimum tax credit carry forward, capital
loss carryforward and state and federal net operating loss carryforward. We periodically review these assets to determine the
likelihood of realization. To the extent we believe some portion of the benefit may not be realizable, an estimate of the unrealized
position is made and an allowance recorded. The Company and its consolidated subsidiaries file a consolidated federal income
tax return. As of April 30, 2010, the Company estimated an effective tax rate of 37.1%. The
Debtors have received approval to pay pre-petition employee withholding obligations in addition to employment and wage-related
taxes, sales and use taxes, and certain other taxes due in the normal course of business through certain first day motions. As
such, the Debtors have paid such taxes when due. In addition, all post-petition tax obligations have been fully paid to the proper
taxing authorities to the extent they were due during the current reporting period. Further, employee withholding obligations are pre-funded by the Debtors and paid directly by the Debtors'
payroll contractor, Automatic Data Processing, Inc. ("ADP"). Thus, no further information regarding taxes is included
in this report. 3. Insurance All insurance premiums have been paid to the proper insurance company or broker when due during the
current reporting period, and all insurance policies are in force as of the filing of this report. 4. Cash Management System & Use of Cash The Court has entered orders authorizing the Debtors to continue to use their existing cash management
system including: (i) investment guidelines; (ii) maintenance of existing bank accounts and business forms; and (iii) the
authorization to open and close bank accounts. The Debtors are continuing to collect and disburse cash since the Petition Date
using the existing cash management system, as modified to comply with applicable orders of the Court. Case Number: 10-10018 (MG) (Jointly Administered)
- 9 -
5. Reorganization items SOP 90-7 requires separate disclosure of reorganization items such as realized gains and losses from the
settlement of pre-petition liabilities, provisions for losses resulting from the reorganization and restructuring of the business, as
well as professional fees directly related to the process of reorganizing the Debtors under Chapter 11. The Debtors'
reorganization items consist of the following: Professional fees directly related to the reorganization ("Professional Fees") include fees
associated with advisors to the Debtors, the statutory committee of unsecured creditors and certain secured creditors.
Professional Fees are estimated by the Debtors and will be reconciled to actual invoices when received. 6. Liabilities Subject to Compromise As a result of the Chapter 11 Filings, most pre-petition indebtedness is subject to compromise or
other treatment under a plan of reorganization. Generally, actions to enforce or otherwise affect payment of pre-Chapter 11
liabilities are stayed. At hearings held in January and February, the Court granted final approval of many of the Debtors'
"first day" motions covering, among other things, human capital obligations, supplier relations (including fuel supply
and fuel contracts), insurance, customer relations, business operations, certain tax matters, industry agreements, utilities, case
management and retention of professionals. The Debtors have been paying and intend to continue to pay undisputed post-petition claims in the
ordinary course of business. In addition, the Debtors may reject pre-petition executory contracts and unexpired leases with
respect to the Debtors' operations, with the approval of the Bankruptcy Court. Damages resulting from rejection of executory
contracts and unexpired leases are generally treated as general unsecured claims and will be classified as liabilities subject to
comprise. Holders of pre-petition claims will be required to file proofs of claims by a bar date to be determined by the Court. The
deadline for the filing of proofs of claims against the Debtors is May 21, 2010, with certain exceptions pursuant to the bar date
order entered by the Court. A bar date is the date by which claims against the Debtors must be filed if the claimants wish to receive
any distribution in the Chapter 11 cases. Differences between liability amounts estimated by the Debtors and claims filed by
creditors will be investigated and, if necessary, the Court will make a final determination of the allowable claim. The determination
of how liabilities will ultimately be treated cannot be made until the Court approves a Chapter 11 plan of reorganization.
Accordingly, the ultimate amount or treatment of such liabilities is not determinable at this time. SOP 90-7 requires pre-petition liabilities that are subject to compromise to be reported at the amounts
expected to be allowed, even if they may be settled for lesser amounts. The amounts currently classified as liabilities subject to
compromise may be subject to future adjustments depending on Court actions, further developments with respect to disputed
claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, or other
events.
Case Number: 10-10018 (MG) (Jointly Administered)
- 10 -
Liabilities Subject to Compromise consist of the following: (In $U.S. 000's) Liabilities subject to compromise include trade accounts payable related to pre-petition purchases, all of
which were scheduled for payment in the post-petition period. As a result, the cash flows from operations were favorably affected
by the stay of payment related to these accounts payable. 7. Post-petition Accounts Payable To the best of the Debtors' knowledge, all undisputed post-petition accounts payable have been and
are being paid under agreed-upon payment terms except for approximately $4.1 million of invoices received, not yet paid, as of
April 30, 2010. 8. Owned and Leased Aircraft On January 26, 2010, the Court approved the abandonment of twenty (20) Beech 1900D aircraft and
related airframe, engines, propellers, avionics and all other equipment, parts and components installed in or on, or acceded to, or
associated with the related aircraft. On February 23, 2010, the Court approved procedures for the rejection of aircraft
related leases and the abandonment of aircraft subject to security agreements (the "Rejection Procedures").
Since the approval of the Rejection Procedures, the Debtors have filed twelve (12) notices of rejection with respect to the leases
of five (5) aircraft engines and fourty-four (44) aircraft. The Debtors continue to evaluate their aircraft fleet and will address the remaining leased and owned as
necessary. During this time, the Debtors continue to accrue lease and interest expenses in accordance with pre-petition
contracts until the lease or debt agreements are rejected or abandoned, as the case may be, and new leases or debt agreements
are finalized and approved by the Court. The line item labeled Flight Operations - Nonoperating Aircraft includes lease
expense related to aircraft currently not in operation. 9. Other, Net Other, Net includes gain / (loss) on disposal of assets, debt conversion expense, recognition of our share of
gain/(loss) in our Hawaiian joint venture and other miscellaneous expenses. This total excludes gains / (losses) on minority
investments that are reported quarterly.
Case Number: 10-10018 (MG) (Jointly Administered)
- 11 -
10. Payments to Insiders Of the total disbursements listed herein, the amounts paid to insiders during the current reporting period are as follows:
Case Number: 10-10018 (MG) (Jointly Administered)
- 12 -
MONTHLY OPERATING REPORT
CONDENSED CONSOLIDATED DEBTORS-IN-POSSESSION STATEMENT OF OPERATIONS
(In $U.S. 000's)
Month ended
Month ended
Month ended
January 5, 2010
Filing
April 30, 2010
March 31, 2010
February 28, 2010
to January 31, 2010
to Date
Revenues:
Passenger
$ 70,078
$ 72,669
$ 65,457
$ 61,488
$ 269,691
Cargo
-
-
-
-
-
Other
509
474
463
381
1,828
Total Revenue
70,586
73,143
65,921
61,869
271,519
Operating Expenses:
Flight Operations (1)
20,426
20,697
19,787
20,719
81,629
Flight Operations - Nonoperating Aircraft (1)
4,615
4,512
5,291
2,163
16,580
Aircraft Fuel
18,635
18,745
14,992
15,953
68,324
Aircraft and traffic servicing
4,258
4,506
3,701
3,897
16,362
Maintenance
14,217
16,001
13,788
10,826
54,833
Promotion and sales
263
471
333
190
1,257
General and administrative
3,330
3,316
3,342
3,040
13,027
Depreciation and amortization
3,330
3,304
3,322
2,926
12,882
Impairment of long-lived asset
-
-
-
-
-
Total operating expenses
69,072
71,551
64,556
59,714
264,894
Operating Income (Loss)
1,514
1,592
1,365
2,155
6,625
Nonoperating income (expense)
Interest Income
381
370
369
322
1,442
Interest Expense
(1,334)
(1,381)
(1,565)
(1,343)
(5,623)
Other, net (Note 9)
(519)
244
309
(323)
(289)
Total Nonoperating income (expense)
(1,472)
(767)
(887)
(1,344)
(4,471)
Income (Loss) before reorganization items and income taxes
42
824
478
811
2,155
Income taxes
(937)
(1,373)
(132)
(87)
(2,529)
Loss (Gain) on reorganization items (Note 5)
2,590
4,525
854
1,060
9,029
Income (Loss) before discontinued operations
(1,612)
(2,328)
(244)
(162)
(4,346)
Loss (Gain) from discontinued operations
-
-
2
(704)
(702)
Net Income (Loss)
(1,612)
(2,328)
(246)
542
(3,644)
MONTHLY OPERATING REPORT
CONDENSED CONSOLIDATED DEBTORS-IN-POSSESSION BALANCE SHEETS
(In $U.S. 000's, except share data)
April 30, 2010
March 31, 2010
February 28, 2010
January 31, 2010
ASSETS
Current Assets:
Cash and cash equivalents
57,484
54,109
78,707
67,471
Short-term investments
850
-
873
885
Restricted investments
11,348
10,971
11,660
12,764
Receivables, net of allowance
6,694
9,766
15,600
10,130
Inventories, net of allowance
27,776
27,352
27,329
27,267
Prepaid expenses and other assets
140,167
147,607
125,212
141,547
Total current assets
244,319
249,806
259,380
260,063
Property and equipment, net
547,983
550,505
550,459
552,378
Security and other deposits
12,192
12,192
11,787
11,786
Other assets
134,156
133,884
134,057
133,964
Total Assets
938,650
946,387
955,683
958,191
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities not subject to compromise:
Current Liabilities:
Accounts payable (Note 7)
4,061
5,912
4,634
4,817
Air traffic liability
4,140
4,146
4,151
3,791
Other accrued expenses
49,207
49,282
42,205
41,659
Income tax payable
(216)
231
3,460
3,597
Deferred revenue and other current liabilities
-
-
-
-
Total current liabilities not subject to compromise
57,192
59,570
54,450
53,863
Deferred credits and other liabilities
99,738
101,968
102,581
104,612
Long term deferred income tax
156,719
156,719
156,719
156,719
Other long-term debt post petition
-
-
-
-
Total liabilities not subject to compromise
256,457
258,688
259,300
261,332
Liabilities subject to compromise (Note 6)
522,435
524,868
536,132
537,002
Total liabilities
836,085
843,126
849,882
852,196
Stockholders' equity:
Preferred stock, no par value, authorized
2,000,000 shares; none issued
-
-
-
-
Common stock, no par value and additional paid-in capital,
900,000,000 shares authorized; 175,217,249 and
175,217,249 shares issued and outstanding, respectively
118,676
118,676
118,676
118,676
Deferred Stock Compensation
1,571
1,555
1,469
1,417
Retained Earnings
(17,683)
(16,971)
(14,345)
(14,098)
Total stockholders' equity
102,565
103,261
105,801
105,995
Total liabilities and stockholders' equity
938,650
946,387
955,683
958,191
MONTHLY OPERATING REPORT
CONDENSED CONSOLIDATED DEBTORS-IN-POSSESSION STATEMENT OF CASH FLOWS
(In $U.S. 000's)
Month ended
Month ended
Month ended
January 5, 2010
Filing to
April 30, 2010
March 31, 2010
February 28, 2010
to January 31, 2010
Date
Cash flows from operating activities:
Net income (loss) from continuing operations
$ (1,612)
$ (2,328)
$ (248)
$ (162)
$ (4,350)
Net income (loss) from discontinued operations
$ -
$ (0)
$ 2
$ 704
$ 706
Net income (loss)
$ (1,612)
$ (2,328)
$ (246)
$ 542
$ (3,644)
Adjustments to reconcile net income/(loss) to net cash used
in operating activities:
Depreciation and amortization
3,330
3,304
3,323
3,362
13,319
Impairment charges
-
-
-
(1,080)
(1,080)
Amortization of deferred credits
(1,363)
(512)
(1,464)
(1,338)
(4,677)
Amortization of restricted stock awards
16
86
52
65
220
Amortization of contract incentive payments
27
27
27
27
109
Provision for obsolete expendable parts and supplies
122
148
108
127
505
Changes in operating assets and liabilities:
-
Net (purchases) sales of investment securities
(850)
873
12
(885)
(850)
Receivables
3,072
5,834
(5,470)
3,626
7,063
Expendable parts and supplies
(546)
(171)
(170)
(13)
(901)
Prepaid expenses and other assets
7,441
(22,396)
16,335
19,133
20,514
Other assets
188
50
50
50
338
Accounts Payable
(1,270)
5,219
1,098
9,026
14,073
Income taxes payable
(447)
(3,230)
(137)
569
(3,244)
Air traffic liability
-
-
-
-
-
Other accrued liabilities
1,259
(2,339)
916
9,188
9,023
Reorganization items
(2,590)
(1,186)
(854)
(1,060)
(5,691)
Net cash provided by (used in) operating activities
6,777
(16,621)
13,581
41,339
45,076
Cash flows from reorganization activities
Net cash provided by (used in) reorganization activities
-
-
-
-
-
Total net cash provided by (used in) operating activities
-
-
-
-
-
Cash flows from investing activities:
Capital expenditures
(781)
(3,324)
(1,378)
(1,538)
(7,021)
Proceeds from sale of flight equipment and expendable inventory
-
-
-
-
Change in restricted cash
(377)
688
1,104
1,415
Equity method investment
516
(238)
(213)
340
405
Investment deposits
-
-
-
-
-
Change in other assets
(130)
9
16
11
(94)
Net returns (payments) of lease and equipment deposits
-
(404)
(1)
(47)
(453)
Net cash (used in) provided by investing activities
(772)
(3,269)
(471)
(1,235)
(5,747)
Cash flows from financing activities:
Principal payments on long-term borrowings
(2,629)
(4,708)
(1,874)
(1,867)
(11,078)
Net cash (used in) provided by financing activities
(2,629)
(4,708)
(1,874)
(1,867)
(11,078)
Increase (decrease) in cash and cash equivalents
3,375
(24,598)
11,236
38,238
28,251
Cash and cash equivalents at beginning of period
54,109
78,707
67,471
29,233
29,233
Cash and cash equivalents at end of period
57,484
54,109
78,707
67,471
57,484
NOTES TO MONTHLY OPERATING REPORT
(In $U.S. 000's)
January 5, 2010
Month ending
Month ending
Month ending
to
Filing to
April 30, 2010
March 31, 2010
February 28, 2010
January 31, 2010
Date
Professional fees directly related to reorganization
$ 2,590
$ 1,186
$ 854
$ 1,060
$ 3,100
Unsecured claims allowed by the court
-
-
-
-
-
Loss on sale-leaseback transactions
-
-
-
-
-
Write-off of debt issuance cost
-
-
-
-
-
Gains on the sale of aircraft
-
-
-
-
-
Cost related to the early return and sale of aircraft
-
-
-
-
-
Write-off of note receivable
-
-
-
-
-
Loss/(gains) on contract terminations, net
-
-
-
-
-
Write off of LOC for engine lease termination & return of aircraft
-
2,027
-
-
2,027
Write-off engine lease termination expenses
-
1,312
-
-
1,312
Other
-
-
-
-
-
Total loss/(gain) on reorganization items
2,590
4,525
854
1,060
6,439
April 30,
March 31,
February 28,
January 31,
2010
2010
2010
2010
Accounts payable and other accrued expenses
$ 62,364
$ 62,316
$ 68,090
$ 66,810
Accrued interest expense
4,914
4,903
5,937
6,197
Accrued maintenance events
-
-
-
-
Write-off of debt issuance cost
-
-
-
-
Secured aircraft debt
384,767
387,289
391,771
393,692
Other secured debt
10,385
10,393
10,407
10,414
Unsecured debt
51,160
51,163
59,928
59,889
Convertible bonds (1)
8,846
8,804
-
-
Total liabilities subject to compromise
522,435
524,868
536,132
537,002
(1) Convertible bonds were listed under unsecured debt in January and February 2010.
Name
Type of Payment
Amount Paid (Apr 1 - Apr 30)
Ornstein,Jonathan G
Wages / Expenses
39,433.37
Lotz,Michael J
Wages / Expenses
33,894.96
Gillman,Brian S
Wages / Expenses
25,976.56
Foley,Paul F
Wages / Expenses
13,554.00
Kranzow,Keith C
Wages / Expenses
12,314.91
Swigart,James
Wages / Expenses
12,000.00
Thayer, Richard
Wages / Expenses
12,000.00
Butler,David K
Wages / Expenses
10,961.48
Appling,Gary W
Wages / Expenses
9,862.87
Nostrand,Peter
Wages / Expenses
9,500.00
Beleson,Robert
Wages / Expenses
9,250.00
Altobello,Daniel
Wages / Expenses
8,500.00
Gust,Eric W
Wages / Expenses
7,994.76
Ferverda,Michael L
Wages / Expenses
7,692.32
Gomes,Edward P
Wages / Expenses
6,993.05
Pappaioanou,Chris J
Wages / Expenses
6,538.46
Hornberg,Robert A
Wages / Expenses
6,534.35
Gumm,Ryan J
Wages / Expenses
6,491.63
Bonilla,Carlos
Wages / Expenses
6,250.00
Chambers,Kenley B
Wages / Expenses
6,106.02
Manson III,Joseph
Wages / Expenses
6,000.00
Skellon,Paul K
Wages / Expenses
5,492.07
Parker,Maurice
Wages / Expenses
5,250.00