According to Bloomberg, many airlines have been driven into a technical bankruptcy or they have substantially breached debt covenants already. Questions: Explain why the debt covenants are characteristic of the airline industry. 2. The article talks about steps that have been already taken by some airlines as they are depleted of cash. What are some… Read more »
Posts Tagged: debt covenants
Not too squeaky clean
A suit called GSP Finance LLC v. KPMG LLC was filed on March 29 with GPS alleging that KPMG “was well aware of the desperate financial condition of Hicks Sports” — specifically, the Texas Rangers and Dallas Stars — when it was hired to conduct the ’08 audit. The suit says Hicks Sports Group suffered… Read more »