Earnings call
 

Missed the first 50 min. Cliffs notes?

what heard for the last few questions was:

bookings picking up faster than expected but still very low

expect leisure traveler to be the majority or recovery

in talks with airbus to slow deliveries.

It sounded like the government is returning tax monies paid with a five year look back in actual cash instead of eight offs. That is worth. About $200M in cash for Spirit this year.

cal recording isn’t up yet but I’d be interested in knowing the details or this. The how and the why? Is it part of the cares act?

4 million cash burn per day “which is the trough, with flexibility on that number coming after September 30th” -Scott

June schedules will be down about 90%

they are expecting leisure market to come back first before business travel and long haul

they are in negotiations with airbus now to reduce late 2020 and early 2021 delivery’s by roughly 40%

might be getting the number off a little but 24-29 aircraft that are on property now are off lease and come sept 1 those would be the first to get cut if they need to right size the airline which would be about 20%. Mostly 319 and I think 4 320s

management says they are playing it conservative with adding capacity back. They want to see demand then they will rebuild schedules. No telling when that will be but they alluded to late June-July bookings being a good indicator for the future as things start to open back up

they are seeing bookings closer to departure which could be a good sign for things coming back moving forward

lots of financial jargon that my poor airline pilot brain couldn’t understand but there was lots of talks about how they did/are reducing costs and securing future cash to weather the storm. Some 70ish million loss in the quarter overall

https://www.cnn.com/2020/05/07/busin...ses/index.html

58.9 million in losses last quarter

The infamous May 2017 meltdown and a couple hurricanes were about $35 mil each do $59M doesn’t sound that bad but March was the only month. Q2 will be much worth if expect but that should be baked into the stock I’d assume at this point.

They're busy baking 12 million more shares of SAVE to offer to the public right now!

a few news articles reporting:

"in discussions with Airbus to defer some of our 2020 and 2021 aircraft deliveries," says CFO Scott Haralson.

The crisis may create some opportunities in “constrained markets," says Spirit CEO Christie.

“We expect the demand for travel in the summer to rebound a bit but still be significantly below last year," says Spirit commercial chief Matt Klein.

quarterly loss wider than analysts' expectations.

Just did my part. Grabbed 6K shares at 9.80. Should be pretty much the low water mark. Time to get back to work and take mofos to the beach.

Vegas casinos and Disney are critical imo