Originally Posted by
dracir1
Yes, this.
A merger/acquistion is 50.1% of the company's assets (whatever those assets may be). It's difficult to know exactly what Spirit owns vs. what they rent but there isn't really that much that they possess that F9 needs. Acquiring a training facility (whether it's owned or leased), some offices, maybe a few sims and some aircraft leases is only attractive if obtained pennies on the dollar. TBH, the last thing F9 needs is aircraft and pilots aren't really a problem now either. Most NK pilots already have apps out and would probably be gone by the time it takes for a full SLI.
F9 needs gates more than anything else.
The leased planes are capitalized on Spirit's balance sheet. Even though they don't own them, they are assets attached to Spirit. Just like Spirit's liabilities includes the leases.
So whether those planes are leased, owned or financed, they are all "assets", per se, and part of the calculation of the total %.