The company also announced that it was looking for relief from payments on a US$182 million revolving line of credit, due to the general poor economic conditions and low sales of light jets. The company was close to defaulting, but Sam Goodyear, an analyst at CreditSights predicted that the lenders would rearrange the debt rather than force the company to liquidate, as their return in the prevailing market conditions would be poor.
The company also announced that it was seeking a reduction in payments on a US$182 million revolving line of credit, due to the overall weak economic conditions and low sales of light jets. The company was near insolvency, but Sam Goodyear, an analyst at CreditSights predicted that the lenders would restructure the debt rather than force the company to liquidate, as their return in the prevailing market conditions would be poor.