Originally Posted by Hog172

Looking at the court documents, I’m seeing section 382 modeling, long horizon NOL usability modeling, tax shields etc. That is expensive work. This level of modeling is a waste of money, unless there is a buyer with a large taxable income. A buyer that expects to be around for decades and a buyer who cares about the preservation of tax assets. PE funds don’t. Small airlines don’t.
NOLs can be extremely valuable if used properly. NOLs are one of Spirit’s most valuable hidden assets. It appears that there is heavy NOL work in the court filings.
If there is a buyer, they would wait until after the bar date or deadline to file a claim against spirit to reduce unknown liabilities. Spirit is spending a lot of money to remove uncertainty and eliminate unknown liabilities.
Spirit is spending a lot of money to preserve value that spirit itself may never use.