Hmmm....
The biggest obligations DH as is to the airplane lessors. Here's the big kicker with a Ch 11 filing. We already have DL and NW in the BK process. They are trying to drop a ton of CRJ-200 (50 seat) off their books. Indy has what, 50 CRJ-200's left? If they filed Chapter 7, the lessors would get back their aircraft. With the market about to get flooded with the DL/NW rejects, that just makes the value of the 50 seaters that DH has worth even less. The major question is: Can the lessors get more money for the DH CRJ's on the open market, or can they get more money by renogiating the leases with DH? If the later is true, then DH is worth more to the creditors alive then dead. They already don't have a pension plan to pay their pilots, so I''m trying to think what their biggest leases outside of their airplanes would be.