Originally Posted by
Noisecanceller
What pieces exactly? Everything is leased. There’s nothing to sell. There are very few hard assets worth money in a liquidation. This is exactly why the bond holders already agreed to equity in place of their $2billion in debt. They are also putting up cash to move forward. There is a next to zero chance spirit is sold into pieces. It only has value as a complete enterprise which is why the bond holders are on board already for this prepackaged bankruptcy
Sold yes but not in pieces
I didn't say sell, I said acquired. Big difference. The bond holders (a "supermajority", not all of them) are "on board" because they are totally screwed and they are accepting anything at this point. The one certainty, proven by the BK filing, is there is no value (by definition of bankruptcy) "as a complete enterprise". There are so many pieces that don't work and won't work.