You obviously don't know how airline BKs work. They probably already have a contingency plan like most airlines. It's debts vs assets and I'm sure they have more of the former.

well, with parked airplanes, 10pax on the flights we are operating and no end in sight to the lockdown, I’d say we are probably burning through quite a bit of cash. Also, BK is expensive, you don’t wait until the bank account is empty when you file.....

He's right. Airline's have to maintain a certain liquidity cuz the FAA knows they cannot operate safely if checks are bouncing.

An airline can file BK if their glide slope will take them down to too little liquidity in the near future. They don't have to be flat broke, and in fact the FAA would pull their cert before they got there anyway.

Ch.11 is "get our house in order" and restructure payments to creditors. It is done before the fuel tanks are bone dry. It is done to continue operating.

Ch.7 is "liquidation" aka sell the assets, chairs, popcorn machine, to pay off the creditors.

Fortunately, never checked that box off. I have checked off the furlough, cease operations and strike though.
My point was I don’t think it’s imminent.

When you see Seabury consultants coming in and they start talking to Ford and Harrison it’s time to bend over.

😂😂, well, hopefully it’s not something Spirit will experience.

I hope not, chapter 11 and the 1113c process sucks. You thought section 6 negotiations were frustrating and the company was being unreasonable...just wait.

lets all stay positive, we don't need ANY airline to lay folks off right now. I am optimistic they are working on things behind closed doors.

I like to think that those at the top are holding way too much stock to want to go through bankruptcy.