Originally Posted by
FriendlyPilot
The bondholders would have to agree to that purchase. Why would they allow the parts to be sold cheaply and not get anything out of it? Attached to those assets, which aren't really very valuable, is a bunch of debt. Who's want to pay $2B for Spirit right now? The market cap is currently about $50M.
B6 is the last airline that could buy NK. It would be like catching a falling anvil.
I mean buying a fully functioning airline with trained and proficient staff, gates, etcetera holds some value above its liquidation value. I'm not arguing that it will happen, only that it could. Most companies purchased in BK have had an upside down balance sheet so anything could happen.
Also I'd argue that when many of the debt holders won't see a dime in Ch7 perhaps they would accept a lesser amount to forgive the debt. Half of something is better than nothing at all.