Impending Liquidation, Limited Career Options - Page 10

#91

PineappleXpres , 02-05-2024 04:06 AM

Gets Weekends Off

Quote:

Originally Posted by sailingfun

To understand Spirits value in a liquidation you would need to know the the ownership structure of the fleet. Leased aircraft would simply go back to the lease holder. Financed aircraft would go back to the bank or capital company. Does Spirit own any of their newer aircraft outright? Nobody wants CEO A320's.

Exactly, the sum is more than its parts. Maybe a private equity firm like the ones that took on Frontier or Sunny. Frontier has had how many lives?

#92

tom11011 , 02-05-2024 04:29 AM

Gets Weekends Off

Quote:

Originally Posted by sailingfun

Nobody wants CEO A320's.

Allegiant does, as many as they can get.

#93

Meme In Command , 02-05-2024 04:39 AM

Leaves Biscoff crumbs

Quote:

Originally Posted by tom11011

Allegiant does, as many as they can get.

Yeah I don't understand why anyone wouldn't want planes now, even if just 320 CEO's. With airlines waiting on deliveries the manufacturers can't keep up with, wouldn't a plane on property now mean revenue now?

#94

Shrek , 02-05-2024 05:02 AM

Gets Weekends Off

Quote:

Originally Posted by SnowmanKiller

NK pilot with some questions for the tribal elders.

Spirit will soon be going into bankruptcy restructuring. Now they can't say that but of course, but they will eventually be driven best case into Chapter 11. Of course, my hope is they successfully restructure and life goes on.

But there is a high chance the creditors demand liquidation, and Ch11 becomes Ch7. That is where I need some advice.

My personal situation is that I was former military, and could not air refuel. I racked up several busts trying to do that, and got to do a fun thing called FNAEB where I had the opportunity to explore a future outside of the Navy prematurely.

Now in 2022 I was a regional pilot and went to all the fairs and a few meet the chiefs. My experience at these events showed me that my professional prospects Permanently Circumscribed in this environment. When Spirit liquidates I will be in a much more competitive environment re hiring. I'll have about 3, 3.5k turbine time, three jet types (including A320) but very little PIC. I was close to upgrading here at Spirit but that won't be happening now that we will likely shrink continually until liquidation. So I am making sure to pick up as much flying as possible to maximize my income before liquidation occurs, sometime in 2025 or hopefully as late as 2026.

I always keep one year of expenses saved up for the event of an immediate job loss. Fortunately with this much forewarning I will have built that up to maybe two years or more of interest bearing cash before I am on the street.

I need to think about where I could realistically go when Spirit is liquidated. I am in the process of preparing applications to those B4 airlines I live near, but there are about 2100 captains ahead of me hear who I know will beat me out. Very high probability based on my prior experience with these events I will never receive any interest from these airlines. There are some regionals near me, and if they are still doing DEC programs by the time I am liquidated, they may be worth looking at.

So my question to you is this: Understanding that in this competitive environment that I may/will never solicit B4 interest, would I be competitive enough to go to Atlas/Kalitta/Fractional/Regional DEC, with at most 3.5k turbine ME and maybe 100 hours turbine PIC?

Without knowing those sectors, my plan is to maximize the peak earning years of my life until liquidation, and then finish up the MBA program I am in, and then look for work. Though the market for MBAs is very poor, I should have enough saved up that I could be under/unemployed for awhile without putting my family in distress. Just curious how competitive the other parts of the pilot world are before getting forced out to do something else.

Thanks!

Apply to UAL..... we are still hiring at a good clip and having the A320 type goes along way these days in getting yourself an interview.

#95

CatPilot1 , 02-05-2024 05:08 AM

Gets Weekends Off

Quote:

Originally Posted by Shrek

Apply to UAL..... we are still hiring at a good clip and having the A320 type goes along way these days in getting yourself an interview.

No way I’m going to throw gear, mentor, and instruct your DEI 6 months/1 year low time captains. Scary times ahead for pax over there.

#96

Meme In Command , 02-05-2024 05:19 AM

Leaves Biscoff crumbs

Quote:

Originally Posted by CatPilot1

No way I’m going to throw gear, mentor, and instruct your DEI 6 months/1 year low time captains. Scary times ahead for pax over there.

Please tell me you're not a check airman

#97

Total BS , 02-05-2024 05:30 AM

Line Holder

Quote:

Originally Posted by sailingfun

A320ceo vs P&W powered A320neo?

hmmmm ...that's a head scratcher in 2024

#98

CatPilot1 , 02-05-2024 05:34 AM

Gets Weekends Off

Quote:

Originally Posted by Meme In Command

Please tell me you're not a check airman

So if I was, I’d want to do those things for free?

#99

Margaritaville , 02-05-2024 05:47 AM

It's 5 o'clock somewhere

Quote:

Originally Posted by tom11011

Allegiant does, as many as they can get.

Spirit's CEOs have IAE engines. As you should know G4 Airbi have CFMs. G4 isn't going to introduce another variant to train for and maintain. They'd rather continue to scour the globe for junked jets that fit the bill.

It will be pretty funny if G4 tries to grab the old junk NWA 320s when Delta parks them.

#100

Margaritaville , 02-05-2024 05:48 AM

It's 5 o'clock somewhere

Quote:

Originally Posted by CatPilot1

No way I’m going to throw gear, mentor, and instruct your DEI 6 months/1 year low time captains. Scary times ahead for pax over there.

This is some of the weakest trolling I've ever seen. First day on the internet?

If you're going to be a troll, at least be creative or funny.