Originally Posted by
Bgood
First, you have to assume that the new stakeholders want to entertain/fund Spirit recovery, which will take a little while, or have much interest in running an airline after recovery.
Most likely, at the time, they were thinking what they could get, by going to Chapter 7, was more than F9 was offering. These people don't really care about the interest of the employees. It's business to them. Only we would think about saving jobs. We are always the ones that will be served up on the plate.
Very succinct and correct. CH7 is a far better option than giving up control and converting your secured debt to no control and unsecured debt.