Originally Posted by
flier320
In line with the rest of his STUPID decisions lately. But it will buy the company another 6 months. Whoptie do
Not even 6 months. The DIP is due to be repaid by July 14th and its $450M so that money is going to the hedge funds. Yes it will reduce Spirit's debt a bit, but Spirit's issues aren't its debt, although that's the barrier to being acquired. Its the daily cash burn ($2M a day in Feb) that is the issue and this money is going to the creditors very soon.