Originally Posted by
FriendlyPilot
Both of those offers were before the P&W engine issues.
A "fraction of the price" plus $3B in debt? Who's going to do this? Not Frontier with an entire market cap of $1B. The last thing Frontier needs is to start having to service $3B in debt plus all the problem with P&W engines.
I get trying to promote an acquisition because it makes it easier to get on a different seniority list, but there are no airlines interested in Spirit anymore. Yes there was 3 1/2 years ago when Frontier made its offer and then 3 years ago when Jetblue made its offer, but a LOT has changed since then.
Frontier made offers eight and six months ago. Maybe it’s time for Spirit to return to Chapter 11 and position itself for a 363 asset sale. That would allow the airline to be sold in whole or in parts while shedding its debt in the process.