JetBlue headed for bankruptcy
Today | 07:46 AM
#41
Line Holder
Joined: Mar 2024
Posts: 371
Likes: 43
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?
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.
Today | 07:52 AM
#42
Gets Weekends Off
Joined: Aug 2007
Posts: 2,077
Likes: 9
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.
Today | 08:13 AM
#43
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Joined: Sep 2020
Posts: 1,556
Likes: 335
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?
Today | 08:56 AM
#45
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Joined: Oct 2017
Posts: 433
Likes: 14
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?
Today | 12:21 PM
#46
Gets Weekends Off
Joined: Nov 2020
Posts: 2,231
Likes: 74
And this is why the govt really shouldn't be involved overall, as it shouldn't pick winners/losers
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