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Author Topic: Request for Information: Debt  (Read 442 times)

Offline DanDan

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Request for Information: Debt
« on: March 22, 2019, 11:28:28 AM »
Question out of interest: when does "the bank" close down the airline? How far in debt does an airline have to be for that?

Offline schro

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Re: Request for Information: Debt
« Reply #1 on: March 22, 2019, 11:53:36 AM »
You will get a bankruptcy warning when you go far enough into the negative cash realm - anywhere from a few million in the early days to about 20 million as time progresses.  Once you get the bankruptcy warning, you will have a game year to right the ship (basically, get back to positive cash). However, the plot thickens as C/D checks are not performed whenever your cash level is below the bankruptcy warning threshold, thus, will often kick off a spiral of death as your planes get grounded and your CI is destroyed.

If you're 2-3 months into a bankruptcy warning and not climbing out, then you're more or less toast unless you can sell a bunch of planes.

Offline DanDan

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Re: Request for Information: Debt
« Reply #2 on: March 22, 2019, 02:52:27 PM »
so one does need positive cash for C/D checks, right? or are they just deducted off the account nonetheless?

Offline schro

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Re: Request for Information: Debt
« Reply #3 on: March 22, 2019, 04:38:35 PM »
so one does need positive cash for C/D checks, right? or are they just deducted off the account nonetheless?

You need either positive cash or slightly negative cash (above that of the bankruptcy warning threshold) and C/D checks will be performed and deducted from your account. If they are not performed, the money is not deducted and they continue to fly without checks until you get fined for it (at which point they are grounded by "authorities" until brought current).

A/B checks continue to happen regardless and are deducted.

Offline Cardinal

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Re: Request for Information: Debt
« Reply #4 on: March 22, 2019, 06:00:53 PM »
Further down the death spiral... lease renewals!

If you are below the threshold, and have aircraft leases expiring, they will not renew and the broker will repossess the plane. This is ONLY for expiring leases, however. Current lease contracts will continue to be paid out of your negative balance.

Then the inbox starts piling on the shame with slot warnings from the grounded flights and strongly worded letters from the bank about missed loan payments  :-[

Offline Zobelle

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Re: Request for Information: Debt
« Reply #5 on: March 22, 2019, 10:00:37 PM »
One idea to avoid the CI hit from bad maintenance is to cease by yourself the flights or downsize if possible to fly your routes at least once a week while you work your situation out.

 

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