Originally Posted by
DrSteveBrule
Bondholders know the ballpark value of a liquidiated Spirit. I assume the risk of another failed merge requires them to demand significantly more cash up front, and probably way more payment if any merger does fail. Bondholders are in the driver's seat. Not Franke, not Christie. Bondholders will get their money either way. They aren't a charity and they dont care whether a bunch of pilots and FAs have a job or not. They want their ROI.
Which is nice to see for a change. Market forces at work versus Franke's dream to see a mega ULCC with a subpar pilot contract in a dying business model with no long term future.
It would suck if we liquidate, but I would rather be forced to start over at a legacy as opposed to hearing PS talk about bites of the apple during a hypothetical JCBA process with Frontier.
The bondholders aren't a charity and neither is my career.