Originally Posted by FriendlyPilot

Spirit shareholders are already wiped out. Stock price is $1.13 today down over 97% from highs. Most lont term investors have already sold and are gone. What's left is noise trading or people that forgot they have $SAVE in some random stock account. Also why do you need to "scare" them? There are no merger offers on the table for them to agree to. Its not like the shareholders are holding anything up.

I doubt management is pretending to file BK and selling everything just to get shareholders to agree to some deal that doesn't even exist. The existing debt is the holdup for an acquisition. Nobody wants to deal with it. Its a massive headwind and even without the debt the airline probably still won't be profitable. Current losses are far more than the debt payments alone.