Posted on 05/31/2007 10:19:32 AM PDT by Zakeet
In NWA’s “BC” era (Before Checci) the airline was known as an arrogant outfit but one that would get you there. Its airplanes were all paid for and their buyers actually negotiated for repair parts, fuel, airplanes, etc. Checci and his cohorts pulled money out of the company by leveraging big loans against the planes, routes and gates. A lot of senior employees made out big and the plan would have worked if they could keep the flights 85 percent filled. That didn’t happen. The rest is history.
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