Spirit is now out of airframes to sale/leaseback or sell outright and is now reduced to sale/leaseback of spare engines. NK has pawned just about every liquid asset the company has left to meet payroll. The future of Spirit is bleak, at best, and that fact is laid bare in FLYY's own 'Going Concern' statement.

Applying at another airline isn't a process that takes weeks; it takes months and can approach or even exceed a year from application to class date. If you're on the NK seniority list and not actively looking for an escape route TODAY then your options will soon be very limited. And it may already be too late. Spirit is junk bond status at best and I wouldn't bet two wooden nickels on its success. I hope for the best with so many friends still there but an honesty assessment of the airline doesn't give me the warm fuzzies.

https://s204.q4cdn.com/112592003/fil...-10Q-Final.pdf

Going Concern

On March 12, 2025, the Company emerged from the Chapter 11 Cases in accordance with the Plan. As part of the reorganization, the Company successfully restructured certain of its debt obligations, established new financing arrangements, and issued new equity securities consisting of new common stock and new warrants. However, the Company has continued to be adversely affected by a challenging pricing environment and continues to face challenges and uncertainties in its business operations. The Company expects these trends to continue for at least the remainder of 2025. The Company has assessed the impact of the current airline industry pricing environment on its liquidity requirements over the next 12 months. Based on such evaluation, the Company has concluded that it is probable the Company will have sufficient liquidity to meet its future cash needs with cash and cash equivalents, cash flows from operations, and management’s current plans, including the implementation of network and product enhancements, including to its Go Comfy travel option, the execution of planned sale leaseback transactions related to certain of its owned spare engines, and the renegotiation of terms with its credit card processor and/or other parties to facilitate payment processing. The Company can give no assurances that its current plans will be successful or that it will be able to secure additional sources of funds to support its operations, or, if such funds are available to the Company, that such additional funds will be on the terms that are acceptable to the Company or sufficient to meet its liquidity needs. The Company's condensed consolidated financial statements have been prepared assuming that it will continue to operate as a going concern and in accordance with ASC 852, which contemplates the continuity of operations, realization of assets and liquidation of liabilities in the normal course of business, and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from uncertainty related to its ability to continue as a going concern.