sccutler
Posts: 5654
Joined: Thu Jan 27, 2000 12:16 pm

Legend Rising

Wed Jan 17, 2001 1:34 pm

The bankruptcy court for the Northern District of Texas has approved the additional $19.0M DIP loan to get Legend back up and running. Sorry I haven't more details, but WFAA TV reported no more than that.

If I can get a copy of the DIP plan or the Order, I'll post.
...three miles from BRONS, clear for the ILS one five approach...
 
AA737-823
Posts: 5155
Joined: Wed Mar 01, 2000 11:10 am

RE: Legend Rising

Wed Jan 17, 2001 2:16 pm

yes, but the money was supposed to be here today from the group in New York. And it isn't. And no one knows where it is. The New Yorker's attorney says, "Well, we're just having some timing problems as those funds were coming from a third party." But they say they are still interested in funding Legend.

I hope they get back up there, I really like that airline. But something tells me that now they will not be discounting seats so heavily.

R
 
goingboeing
Posts: 4727
Joined: Sat Dec 04, 1999 1:58 am

RE: Legend Rising

Wed Jan 17, 2001 10:08 pm

<< But something tells me that now they will not be discounting seats so heavily.
>>

I don't think their intent was to discount seats at all. They were counting on the last minute travellers who were going to pay nearly 2 grand to go to Washington. Instead, they ended up sending flights filled with passengers paying Super Saver fares. It's a great concept, but they are either a "luxury airline" or a "low fare" airline - but they can't be both.

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