Originally Posted by
BusBoi
To be fair it says "up to" $3m per day, and only until their exposure is fully collateralized. It doesn't say what that top end number is.
Spirit had $11.3M per day of revenue in Q2. They had $13M per day of costs. Its "up to $3M" but its likely they will just take the $3M until they get to where they can cover all outstanding future bookings. So how is Spirit going to cover $13M per day of costs when its effectively only taking in $8.3M in actual revenue? This is a $5M per day shortfall.