solehibob
Posts: 47
Joined: Mon Feb 14, 2005 1:18 pm

Who Buys Comair From DL? Republic?

Thu Aug 25, 2005 5:36 am

Or is Comair part of the Skywest deal?
 
SHUPirate1
Posts: 3428
Joined: Sat Sep 20, 2003 2:53 pm

RE: Who Buys Comair From DL? Republic?

Thu Aug 25, 2005 5:44 am

Quoting Solehibob (Thread starter):
Or is Comair part of the Skywest deal?

No

Quoting Solehibob (Thread starter):
Who Buys Comair From DL? Republic?

I doubt Republic will. The best guess is probably Mesa.
Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
 
solehibob
Posts: 47
Joined: Mon Feb 14, 2005 1:18 pm

RE: Who Buys Comair From DL? Republic?

Thu Aug 25, 2005 5:51 am

Thanks for the reply-any idea as to the price tag possibly? Is Comair worth more than the Skywet deal to DL?
 
srbmod
Posts: 15446
Joined: Tue Mar 20, 2001 1:32 pm

RE: Who Buys Comair From DL? Republic?

Thu Aug 25, 2005 7:21 am

I doubt OH will garner too much more cash than the EV deal. OH is damaged goods right now due to the meltdown back during the winter and the pilot's strike a few years back. DL paid around $1 billion for OH, I'd be surprised if they even got $500 million for it. I would said that at best, they'll get $350 million for OH (based on the fact that OO got EV for a third of the price DL had bought them back in the late 1990s.).

I doubt Republic Airways Holdings will buy OH since the company is an all-Embraer operator. Mesa is considered a major possibility as the OH buyer since they are about to start doing DL Connection flying, but I'll throw a darkhouse into the mix, Air Wisconsin Airlines Corporation.
 
SHUPirate1
Posts: 3428
Joined: Sat Sep 20, 2003 2:53 pm

RE: Who Buys Comair From DL? Republic?

Thu Aug 25, 2005 7:28 am

Quoting Srbmod (Reply 3):
I'll throw a darkhouse into the mix, Air Wisconsin Airlines Corporation.

I thought about AWAC, but would they have the financial resources to buy a company in Comair that is fairly significantly larger than them in Comair? (Comair had 310.6 million dollars in revenue in Q1 2005, AWAC 182.2 million in revenue for the same time period). I know Mesa is smaller than Comair as well, but Mesa has Jonathan Ornstein, who would find a way to buy up absolutely everything if he absolutely wanted, short of being told to cease and desist, as he was with Atlantic Coast Airlines.
Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
 
lowrider
Posts: 2542
Joined: Wed Jun 30, 2004 3:09 am

RE: Who Buys Comair From DL? Republic?

Thu Aug 25, 2005 11:25 am

The target price I have heard tossed around is 600 to 700 million. Anything less than that and it is not worth Delta's time. Any cash is better than nothing you say? Not necessarily so, especially if you are on your way to bankruptcy no matter what. If they don't get a good enough offer, GG can just drag CMR into bankruptcy court and get a friendly judge to terminate all the leases and contracts. There is enough RJ capacity out there right now to make up the difference. Needless to say, few are sleeping well in Cinci right now.
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