Originally Posted by
CincoDeMayo
This industry is about the unexpected happening and being able to deal with the unexpected. The oil price isn’t even that high when compared to previous “high oil” events. In the end, the Iran war was just the final light breeze that would have pushed the Jenga tower that is Spirit, over. That’s the industry.
Spirit will get their $500m bailout, and it will open the Pandora’s box of open hands from other airlines. Let that begging begin.
I can’t see any other airlines being willing to give up a 90% stake in their own company, or the creditors being happy to relinquish primary compensation rights if it’s not necessary.