Originally Posted by
93Sierra
To get a judge to sign off on a ch11 plan, you have to have one, and if this transformation plan was it ha, judge would cank that in a sec. The plan is a joke, the fact that Ted still has a job ( failure to deliver to share holders/run a company) and why would lessors work to renegotiate when Boeing and Airbus have there own issues? Minus the merger/Pratt issues, when everyone was posting record post Covid travel profits, the numbers were still awful.
its not a judge that has to approve, it's the creditors committee that is formed to represent the creditors. They have to be convinced that a rejuvenated Spirit will pay them back more money than just letting them be liquidated. The judge just oversees the process to make sure the laws are followed.