The Company received a letter, dated November 22,
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Posted On: 11/29/2017 11:17:13 PM
The Company received a letter, dated November 22, 2017, from AerLine terminating the Agreement as a result of the Company’s failure to proceed with the closing as scheduled. Unless the meaning of "terminating the agreement" has changed, it would appear the deal is dead.
If the deal was not dead, the 8K would have stated both sides have agreed in writing to extend the deadlline, something that was outlined in the deal giving the option to continue past the October 31, 2017 deadline and that was not stated here. I am sure if that was going to be the case it would have been stated to ensure no massive sell off might occur.
But, that is a good thing. The 737 would have been limiting and restricted the company from flying into a very small market already well serviced and a service that would not allow for growth. The company now knows what they must do - secure certification, lease aircraft that can get them to Europe in some degree of comfort (I recently flew on a 737-400 and I can tell you the drop down TV screens, no power for laptops, very limited entertainment sucks on a flight more than 2 hours). This deal is over, kaput and done, behind us and move forward. Each one of these setbacks adds volumes to their growing encyclopedic knowledge of how to get this running, so be thankful there is now a chance for cheaper shares on the horizon and no time pressures at the moment to live up to.
It will be done.
If the deal was not dead, the 8K would have stated both sides have agreed in writing to extend the deadlline, something that was outlined in the deal giving the option to continue past the October 31, 2017 deadline and that was not stated here. I am sure if that was going to be the case it would have been stated to ensure no massive sell off might occur.
But, that is a good thing. The 737 would have been limiting and restricted the company from flying into a very small market already well serviced and a service that would not allow for growth. The company now knows what they must do - secure certification, lease aircraft that can get them to Europe in some degree of comfort (I recently flew on a 737-400 and I can tell you the drop down TV screens, no power for laptops, very limited entertainment sucks on a flight more than 2 hours). This deal is over, kaput and done, behind us and move forward. Each one of these setbacks adds volumes to their growing encyclopedic knowledge of how to get this running, so be thankful there is now a chance for cheaper shares on the horizon and no time pressures at the moment to live up to.
It will be done.
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