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Originally Posted by MergingTargets
(Post 4026261)
Apparently the government’s going to give Spirit 500M in exchange for a “significant stake.”
Cool, so we’re commies now. First US state-owned airline, and it’s Spirit. On the other hand, no matter how freaking awful your service, management, business plan, etc… it appears it’s literally impossible to go out of business now? We’re next seems like Spirit going away would’ve helped us in FLL. Now that it’s Trump Air dba Spirit seems like that’ll hurt us more than we know along with sky high jet fuel prices. |
Originally Posted by STIorSTD
(Post 4026273)
Well good news for us right?… RIGHT?? The government will just bail us out…
We’re next seems like Spirit going away would’ve helped us in FLL. Now that it’s Trump Air dba Spirit seems like that’ll hurt us more than we know along with sky high jet fuel prices. 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. |
Originally Posted by nuball5
(Post 4026277)
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.
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Originally Posted by FriendlyPilot
(Post 4026286)
The bailout isn't to help Spirit, its to help Citadel and the other hedge funds that are owed money.
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Originally Posted by FriendlyPilot
(Post 4026286)
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?
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Originally Posted by MainlineFlyer
(Post 4026309)
Yeah, but once the government has a stake it won't let Spirit fail. At that point B6 is doomed and I don't feel like Trump would bail us out.
And this is why the govt really shouldn't be involved overall, as it shouldn't pick winners/losers |
The Communist Trump administration? That's already a thing:
Trump Administration Now Holds Stakes In 5 Public Companies: Here's A List Also, I think the political calendar (elections in November, $4 gas) might have something to do with this move if it happens. |
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