Mesa Grants $200M In Claims To End Plane Lease Suit

Law360, New York (January 19, 2011, 7:19 PM EST) -- Bankrupt airline company Mesa Air Group Inc. reached a settlement Wednesday over abandoned and altered airplane leases and financing, granting U.S. Bank NA and Manufacturers and Traders Trust Co. unsecured claims of $196 million against Mesa subsidiaries.

Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York signed off on the settlement that also includes a cash payment of $423,000 to Canadian Regional Aircraft Finance Transaction Limited No. 1 for administrative expenses.

Mesa Airlines had leased nine Canadair Regional Jet CL-600-2B19...
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