I imagine it has some significant challenges - such as how to carry through the future purchases with Airbus and Boeing, negotiate and settle with represented personnel and creditors, etc. Once the reverse takeover has been decided, assign people to teams to enable the reverse takeover to occur with minimum disruptions and facilitate a smooth transition. Possibly there's even a greater degree of difficulty than one in Mr. Arpey's role.
In this instance, it seems they were attempting to justify the $19.9M on the basis of the temporary and figurehead position of Chairman (or they would retain him) rather than for what he has accomplished and bypass legal provisions.
It would be interesting to see what his compensation is for his achievements.
Originally Posted by
bmchris
Does anyone have any insight into how hard it is to run an airline/company while bankrupt? Is it harder to get financing? Would a one month strike for example sink the company, and scare away flyers? I know JC Penney is not even in bankruptcy (yet), but they're finding it more expensive/hard to borrow money.