$HTZ Everyone pause and remember that this was a *voluntary* chapter 11 bankruptcy to protect themselves from creditors wanting to collect on their debt. This buys them an automatic stay period in which they can renegotiate their loan terms into something more favorable. One of the 94 federal district trial level bankruptcy courts will assign a Chapter 11 standing trustee to help bring the 7 top creditors to the table with the company and come to a deal about how the new loan terms will look like to soften today's unprecedented stop in cash flow from the airline industry stopping due to the Covid-19 pandemic. Many people will hear bankruptcy and will be scared into selling but really this is the exact strategy that they should be undertaking.
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