Originally Posted by
deelmakur
TPG, depending on their deal with NW, could get left without a chair when the music stops, on this one.
True, from TPG's standpoint one would wonder whether they have themselves covered. From NW's standpoint the $225 M was well worth it as anti-LCC insurance.
Originally Posted by
deelmakur
My guess is that TPG has some kind of "put" to NW.
I would agree.