BankruptcyData’s detailed analysis and summary of Republic Airways Holdings’ Second Amended Joint Plan of Reorganization, dated December 19, 2016, is now available. The U.S. Bankruptcy Court confirmed the Plan on April 27, 2017; and the Plan became effective on April 30, 2017.
BankruptcyData notes, “The Plan contemplates for the Debtors to obtain modified agreements from its Codeshare Partners to reflect the actual costs of its flying and allow an orderly restoration of service, reach agreements on the early return of out-of-favor aircraft (Q400 and ERJ-145) and resolve any related claims, streamline its operations by operating a single aircraft type (E170/175) under a single air carrier certificate, and secure additional liquidity to fund future operational stability and growth, including through the restructuring of its aircraft indebtedness.”
BankruptcyData’s Plan Summary continues, “The Liquidation Analysis for Reorganized Republic Airways estimates the Amount Available to Creditors to be $1,694.0 million. The recovery rate to the General Unsecured Creditors is estimated to be 0%.” BankruptcyData subscribers receive access to the full summary, which provides further details on corporate background, events leading to Republic Airways Holdings’ February 25, 2016 Chapter 11 filing, recovery specifications and a comprehensive break-down of all claimant classes.
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