Go Back   > > >
 
Thread Tools Search this Thread
Old May 7, 17, 3:21 pm   #16
Original Poster
  
Join Date: Jun 2015
Posts: 290
Quote:
Originally Posted by Grog View Post
Someone should start a GoFundMe and we can pitch in and take over AB instead.
A company with an EBIT of EUR -667 million of a revenue of EUR 3,79 billion and a total equity of EUR -1.47 billion last year?

Hmmm....... no!
thbe is offline   Reply With Quote
Old May 12, 17, 12:16 pm   #17
  
Join Date: Nov 2004
Location: DFW
Programs: AA (ExPlat).DL,UA Hertz (Pres Circle); Avis (First), Hilton (Diamond), Marriott (Gold)
Posts: 446
Does Germany have an equivalent to the US Chapter 11 process which might allow AB to shed some debt, shrink some assets, and reorganize?
jeffhacker is offline   Reply With Quote
Old May 12, 17, 2:32 pm   #18
Original Poster
  
Join Date: Jun 2015
Posts: 290
Quote:
Originally Posted by jeffhacker View Post
Does Germany have an equivalent to the US Chapter 11 process which might allow AB to shed some debt, shrink some assets, and reorganize?
Yes, basically it's also possible under German law. But it doesn't work as good as under Chapter 11 in the US. The reason is, that under German law the management of the company loses his power and the insolvency trustee takes over control. The insolvency trustee is less interested in rescuing the company and often he hasn't the management skills for that.

But I don't think, that EY let AB go bankrupt. EY would not really save money by doing that, but will lose his bargaining power towards the German government and LH. But after Brexit and loosing the British government as EU internal support, EY's business with Europe depends on the goodwill of the German government. Plus after loosing AZ and AB they will need an European partner like LH. So a deal between German government, EY and LH is very likely.
thbe is offline   Reply With Quote
Old May 13, 17, 9:12 pm   #19
  
Join Date: May 2014
Location: Ireland
Posts: 1,594
LH having a say in running AB is like letting a burglar install your alarm system.

Germany has done a 'terrible' job in privatizing its state companies. Whether it's the Post, Telekom, Bahn or Lufthansa..the vested interests ensured that these companies would dominate their respective industries and leave next to no room for competitors.
Ber2dca is offline   Reply With Quote
Old May 14, 17, 6:10 am   #20
Original Poster
  
Join Date: Jun 2015
Posts: 290
Quote:
Originally Posted by Ber2dca View Post
LH having a say in running AB is like letting a burglar install your alarm system.

Germany has done a 'terrible' job in privatizing its state companies. Whether it's the Post, Telekom, Bahn or Lufthansa..the vested interests ensured that these companies would dominate their respective industries and leave next to no room for competitors.
You mean, compared to EY, which is the selling company in that case?
thbe is offline   Reply With Quote
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Thread Tools
Search Thread
Go to Top
Forum Jump
Contact Us - FlyerTalk - Archive - Top