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.
The bank is allowing NK to operate because they're getting paid $50m upfront and holding back $3m/day in new bookings. Which is $270m/ quarter. They probably mathed out the risk so that they wouldn't be losing out money in the next 3-6 months. By then Spirit is either bought out or bankrupt again.
And who knows what additional stipulations there are in the agreement beside the bullet points.