The “NK doesn’t have an aircraft order” angst is some of the silliest ****** I’ve seen. As though the music just stops in 2021 and Spirit will never grow again.

The business model is reliant on growing 15% a year. We’re picking up airframes wherever we can find them. That’s not indicative of a company that’s done with growth. Either Spirit will place an order and continue to grow organically, will be merged with someone with a bunch of slots in hand, might be bought by a legacy or the economy falls off a cliff and it’s all moot anyway.

Granted, I think they waited a bit too long and are scrambling to reach acceptable terms with production slots available on a timeline that NK would like. But I’m not worried about things just stopping cold in 20 months. That might mean aggressive vulturism as we see today or a separate fleet order. It doesn’t mean standing pat where we’re at.