Originally Posted by
taketheshot
i think his point is that the bank wouldn’t agree to continue letting nk operate at all if there wasn’t some hope on the horizon to get their money back. Whether that’s good for the pilots is another story.. is it’s an acquisition? Those aircraft finally sold? Some other event that will increase liquidity, none of us know but there must be something that motivated them to make a deal rather than pull the plug completely. They have no goodwill for NK they just want their money.
Exactly this. No one in their right mind would give Spirit a 1 year credit line and an amended holdback agreement if there wasnt a sale out there that was already agreed upon which would ensure spirit could pay back Citi and the USB.
Spirit is sold, we dont know who, yet. But the bank basically decided that instead of cutting your head off now they will stab you in your leg and tie a tourniquet? Banks do not agree to drip 3m drops of blood when you owe them 500m.