The sale/leaseback gravy train is at risk of coming to an end. Frontier has $500M in cash reserve and $5B in debt (much of it leases) and has been steadily losing money. I imagine at this rate Indigo will have a harder and harder time finding banks to take their sale/leaseback deals with Frontier as the lessee. I suspect this is why BB was shown the door.

Cost cutting just ain’t gonna do it anymore. Frontier has to create real, homegrown, sustainable profit. Until then, a new contract is the last thing on their minds. The sale/leaseback money machine needs to be purring along again before we get a contract.