That isn't all going to be from straight pay. That $100 million also includes work rules.

My advice is accept whatever the negotiating committee comes up with. That will be better than whatever the court will impose. It will also be better than liquidating. Those concessions also buy time to stay current in the flight deck until a legacy calls, and keep FOs from returning to the regionals.

A successful restructuring needs the company returning to positive cash flow, and persuading creditors to exchange debt for equity. The more cash flow the company can claw back from rejecting leases, concessions, and cutting unprofitable routes, the more equity available to exchange for that debt. Lower debt, more cash flow, and a smaller Spirit, the lower the barrier and less risk there is for another (successful) airline to acquire Spirit later.