The debt service on those bonds was not a small amount of money every month. That’s now half gone. The principle being due in September wasn’t an option. Ain’t got it period.

If they want to start negotiating with everyone else given the demand for aircraft around the world then the airline is done. Leaseholders can make more than we are already paying them so they sure aren’t going to take anything less and would probably be happy to repo their asset and make more on it elsewhere. Majority of the fleet is leased so that alone would kill it. The planes we have debt on same story. Maybe the court could assist in restructuring some of that debt but it would not be significant is my guess. Those banks would also be just fine repoing their asset as well.

We also needed cash according to the bravo plan before profits could be realized and no one was going to give it to us so the bond holders did as part of the deal for their equity.

The brovo plan looks doable if we seriously double down on customer service to change our image and fire all the like minded employees and contractors that can’t crack a smile and like to tell their coworkers to suck a dick on camera in public. The absolute ghetto hiring practices need to change if they want brovo to work.

Most likely this is a stay of execution backed by our largest debt holders until we can make another merger happen so they can cash out.

The Biden administration put a huge delay in this plan with their BS and cost a lot of union jobs in the process. Market disrupters have to have an exit at some point. The entire point of starting a business is to sell it one day. What do they think Spirit exists for?