CX747
Topic Author
Posts: 5748
Joined: Tue May 18, 1999 2:54 am

How Is Legend Doing?

Thu Jan 18, 2001 6:06 am

I was wondering if Legend Airlines started service again to LGA and IAD? Also, how many aircraft are currently in their fleet?
"History does not long entrust the care of freedom to the weak or timid." D. Eisenhower
 
sccutler
Posts: 5651
Joined: Thu Jan 27, 2000 12:16 pm

RE: How Is Legend Doing?

Thu Jan 18, 2001 9:10 am

Although they have a commitment for $20.0M in Debtor in Possession financing, and have been using $1.0M of it to gear back up for renewed operations; and have received approval from the Bankruptcy Court for use of the remaining $19.0M; the money (which was supposed to be available immediately) is not "in the bank" yet; it is (according to the lawyer for the lenders) expected by "Friday or Monday."

Not auspicious.

But they claim the deal remains in place, and recalled a number of employees weeks ago to get ready to resume flights.

They are also operating some charter work.
...three miles from BRONS, clear for the ILS one five approach...

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