Mesa Slashes $180M In Aircraft Lease Claims

Law360, New York (January 31, 2011, 12:44 PM EST) -- Bankrupt Mesa Air Group Inc. has reached an agreement with lenders including General Electric Capital Corp. and Wells Fargo Bank NA that cuts as much as $220 million in claims for aircraft lease indemnity agreements down to about $41 million.

The Phoenix-based airline filed its settlement agreement with the U.S. Bankruptcy Court for the Southern District of New York on Friday pertaining to taxes and other indemnity obligations for 36 rejected plane leases.

The $41 million the company agreed to accept in allowed claims included about...
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