Beav,
If you read more closely on ALL the pleadings of the BK you will find that while Polar has not paid Atlas for the lease payments, Atlas has not paid any of their lease payments either. Atlas has also not paid Polar for ANY of the wet lease flying that Atlas is doing for Polar. It is one big shell game out there. Strickly speaking Atlas and Polar are each others largest crediter. There is not enough ACMI flying out there to keep all of Atlas's Acft occupied. So if Polar was not there the 5 Acft that are flying Polar freight would be parked. Causing even more layoffs.
Also In one of the pleading it makes the statement that Polar's debt of 140 million is nothing more then scheduled lease payments for all the acft. Atlas purchased Polar dept free except for lease payments. The entire AAWH corp is busy shuffling mony back and forth. Did you see that the one company was transfered 20 million of Polar's cash and is just holding on to it and is not paying anyone?
Some of Polar's routes do not have very good revenue, but some of Atlas's ACMI contracts are crap also. (Money losers)
Face it we are all in this together. We have to hope that the Boys and Girls in the big white monstosity of Purchase ACTUALLY know what they are doing.
So SMILE