Spirit at risk of bankruptcy and liquidation
01-17-2024 | 05:28 AM
#1
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Spirit at risk of bankruptcy and liquidation
https://www.flightglobal.com/strateg...156512.article
Interesting,
Industry analysts describe a relatively bleak future for Spirit in particular.
”We believe this is a positive for JetBlue, as business at Spirit turned negative between the time the merger was announced to now,” writes TD Cowen aviation analyst and managing director Helane Becker.
Interesting,
Industry analysts describe a relatively bleak future for Spirit in particular.
”We believe this is a positive for JetBlue, as business at Spirit turned negative between the time the merger was announced to now,” writes TD Cowen aviation analyst and managing director Helane Becker.
01-17-2024 | 08:22 AM
#2
SDQ Base Chief
Joined: Mar 2006
Posts: 6,089
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From: 320 CA
https://www.flightglobal.com/strateg...156512.article
Interesting,
Industry analysts describe a relatively bleak future for Spirit in particular.
”We believe this is a positive for JetBlue, as business at Spirit turned negative between the time the merger was announced to now,” writes TD Cowen aviation analyst and managing director Helane Becker.
Interesting,
Industry analysts describe a relatively bleak future for Spirit in particular.
”We believe this is a positive for JetBlue, as business at Spirit turned negative between the time the merger was announced to now,” writes TD Cowen aviation analyst and managing director Helane Becker.
01-17-2024 | 09:13 AM
#3
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This could be plan B. Go chapter 11 and Big Blue comes in and buys the assets for a bargain.
01-17-2024 | 09:19 AM
#4
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Joined: Jan 2008
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I hope it’s not really the case, and hopefully it all works out for Spirit employees, truly, but if there is any credibility to the speculation of CH 11/7, it wouldn’t surprise me if this is a major discussion in the board room, not just JetBlue’s board room either, probably F9 and others.
01-17-2024 | 09:28 AM
#6
Gets Weekends Off
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From: blueJet
01-17-2024 | 09:43 AM
#8
Perennial Reserve
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I still think Chap 7 is far less likely than Chap 11. And they can't "buy the pilots." Not only does the 13th Amendment outlaw that, they will already have bailed while the bankruptcy process is ongoing. Those things take forever.
01-17-2024 | 10:20 AM
#9
New Hire
Joined: Dec 2019
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From: A320 Captain United
I hope it doesn't happen but Chapter 7 is much more likely in this environment. There will be a bidding war for airplanes and gates between all the carriers. There is a huge shortage of both. No way lessors will negotiate for lower lease payments etc in this environment. Best of luck to all the Spirit pilots.
01-17-2024 | 10:23 AM
#10
The REAL Bluedriver
Joined: Sep 2011
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From: Airbus Capt
The problem I see with chapter 11 is NK doesn't have high labor costs it can gut. They can trim some debt, but ultimately the biggest problem NK faces is a lack of demand for the ULCC business. And the debt they trim probably can't be aircraft related or the debtors will just take the planes back and sell them to someone else. Or the ULCC business is saturated, however you want to look at it. And all of the full service airlines are overlapping basic economy seats on important ULCC routes. BK won't fix that.
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