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Old 03-29-2024 | 01:00 PM
  #55  
Stayontarget
Almost there
 
Joined: Apr 2021
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Originally Posted by JulesWinfield
I can't speak for people who have an agenda, but I wouldn't listen to what anyone says on the matter. You can do the math yourself. Spirit currently burns roughly 100 million per quarter, and has been pretty consistent in that number since Covid. They currently have roughly 900m in cash and 1.5m in current assets. That gives them a runway of 9-15 quarters at the current burn rate. They have a large debt payment of 1.1B due in 2025 that will need to get refinanced at astronimcal rates or it could potentially sink the company. I think it is possible to turn it around, get to profitability, and then figure out that 1.1B debt payment, but I don't think this management team is capable of doing it. They've already sold and leased back some of their aircraft, so they are running out of assets to leverage.
I am curious about the NK order book timeline now that some have been deferred, the current status of the 319s they were giving back, and the ratio of leased vs owned now. But it’s not my company so I haven’t taken the time to look it up.
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