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Old 04-25-2026 | 06:52 PM
  #506  
havoste
On Reserve
 
Joined: Feb 2020
Posts: 126
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From: ERJ CA
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Originally Posted by flier320
Spirit had no way of making the DIP repayment of 475 million coming up in July. The war was unfortunate, but it only fast tracked the inevitable.
That's not true, the confirmation plan laid out exactly what they would do with the DIP lenders. (They would be mostly equitized) Though it also assumed the elevated fuel prices would settle back towards $2.35 in mid-May which was obviously in hindsight unrealistic. But if the Iran War did not happen Citibank would likely have not filed the objection (their main issue was the fuel price) and the confirmation hearing would've proceeded.
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