Originally Posted by
westcoastj
in all honestly I don’t understand how spirit has enough unrestricted cash to operate still. I thought there was a 450 million dollar floor. Under the LAST MOR with an average with an average burn rate of 2-3 million per day and then scaled down after the lease returns and such that would still put the airline under that limit by now.
Combine this with a 5-10% cancelation rate for most days and it’s beyond me how they are making it work still.
remember the articles after thanksgiving thinking spirit was going under? Spirit has only received 50 million from creditors since then, the gate sales went straight to creditors as well and did not help with cash on hand I believe.
so I’m kind of at a loss for how the airline is continuing business as usual.
also when is the MOR for December going to get published??? It’s almost been 3 months at this point. Seems strange.
That 20 jet auction isn't scheduled for April and most of that cash is just going to pay off the debt on the planes. It doesn't seem they are concerned about the operation and all the cancellations. Other than the recalling 500 FAs, it feels like they are just trying to limit the cash burn but not really planning for long-term operation.
Also whatever happened to that "interested party"? That story disappeared pretty quickly.
The December MOR is a head scratcher as well. Its February. How hard would it be to come up with the financials?