Originally Posted by
nuball5
Thats a little dramatic but ok. Spirit going under wasn’t some huge tailwind for JetBlue. I’m glad to not see people lose their jobs for however long 500 million lasts even though I don’t agree with how it’s being done using taxpayer dollars.
Spirit's DIP loan is due in July. Its $450M, minus a little for some repayments like the ORD gate sales. That $500M is going out the door over the next 3 months. The bailout isn't to help Spirit, its to help Citadel and the other hedge funds that are owed money. I just wonder if the agreement makes Spirit's assets payable to the US Government in a sale or if they do not supercede the current bondholders interest?