Originally Posted by
BusBoi
To be fair it says "up to" $3m per day, and only until their exposure is fully collateralized. It doesn't say what that top end number is.
From the latest 10-Q
The maximum potential exposure to cash holdbacks by the Company's credit card processors, based upon advance ticket sales and Spirit Saver$ Club
memberships as of June 30, 2025 and December 31, 2024, was $491.6 million and $469.2 million, respectively.
So 960.8 million dollars.
Spirit already have 200 + 50 set aside + another 50 now = 300 million
Worst case scenario 660.8 million......
This deal bought the company 30-60 days.
Davis gonna need to come up with more cash somehow....