Originally Posted by
neilalmighty
been following a few weeks now.
Will the government out Rex. More than likely and the deal is probably being done at the moment. The bail out would only cover the regional part hence why Pel-Air, AAPA Wagga & the like are on the market. More than likely NJE 50% share will hit soon as well. Everything will be sold that can be sold to lower the bail out amount with Pel-Air being sold and the 170M secured credit gone it just leaves PAG, Employees, ATO & EY with the rest being cents on the dollar in a DOCA arrangement.
Sold so far
Simulator Centre sold (5-10M assuming)
B737 Parts including an engine (10-20M in parts)
House in Mascot Sold (market would say around 3M)
Pel-Air 47.1M + 170M Debt (217.1M)
For Sale
AAPA Wagga (should go for 20-30M)
HQ & Annex (Should be around 15-20M)
To come:
NJE 50%
hangar
APPA Ballarat
No chance of a bailout, 350M of debt still there and sweet little to show for it. The pel air sale raised funds that were going to pay secured debt, that’s likely to be the WBC loan. Others are well positioned to fill most of the gaps.