Where is ALPA?
01-27-2024 | 10:21 AM
#21
Bent over by buybacks
Joined: Feb 2017
Posts: 1,612
Likes: 639
Let me see if I understand this.
Is the narrative here that the merger wold have been approved but for Spirit ALPA's failure to send a letter to the judge? That of all the other stakeholders who sent a letter with unsuccessfull results, it was the Spirit MEC's letter that would have moved the needle...and it was the the lack of a letter that doomed the merger?
Ridiculous
Is the narrative here that the merger wold have been approved but for Spirit ALPA's failure to send a letter to the judge? That of all the other stakeholders who sent a letter with unsuccessfull results, it was the Spirit MEC's letter that would have moved the needle...and it was the the lack of a letter that doomed the merger?
Ridiculous
01-27-2024 | 06:05 PM
#22
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
Let me see if I understand this.
Is the narrative here that the merger wold have been approved but for Spirit ALPA's failure to send a letter to the judge? That of all the other stakeholders who sent a letter with unsuccessfull results, it was the Spirit MEC's letter that would have moved the needle...and it was the the lack of a letter that doomed the merger?
Ridiculous
Is the narrative here that the merger wold have been approved but for Spirit ALPA's failure to send a letter to the judge? That of all the other stakeholders who sent a letter with unsuccessfull results, it was the Spirit MEC's letter that would have moved the needle...and it was the the lack of a letter that doomed the merger?
Ridiculous
You can think that is ridiculous, but let me ask you this. If labors endorsement of the merger makes no difference, and has no affect, why did the CEO ask for the public support, and why did the Spirit MEC think they could extract value by withholding the endorsement?
01-28-2024 | 05:32 AM
#23
Banned
Joined: Oct 2023
Posts: 85
Likes: 0
There is usually the straw that breaks the camels back. Maybe the judge also considered Spirit ALPAs opposition to the merger. We will never know. Probably not a big factor, but again, we will never know.
You can think that is ridiculous, but let me ask you this. If labors endorsement of the merger makes no difference, and has no affect, why did the CEO ask for the public support, and why did the Spirit MEC think they could extract value by withholding the endorsement?
You can think that is ridiculous, but let me ask you this. If labors endorsement of the merger makes no difference, and has no affect, why did the CEO ask for the public support, and why did the Spirit MEC think they could extract value by withholding the endorsement?
01-28-2024 | 06:49 AM
#24
Bent over by buybacks
Joined: Feb 2017
Posts: 1,612
Likes: 639
You can think that is ridiculous, but let me ask you this. If labors endorsement of the merger makes no difference, and has no affect, why did the CEO ask for the public support, and why did the Spirit MEC think they could extract value by withholding the endorsement?
Of course the CEO asked for public support. There was zero downside, and it was free. He probably told his gardener to write the judge. Why not?
And for Spirit ALPA, again. Their play had almost no downside, aside from the second-guessing here. There was much more upside to trying to leverage their support for better terms than throwing in their support from the beginning.
The real question is why we're even talking about this merger at all. Spirit is worth a fraction of JetBlue's bid from 18 months ago. No profitiability in sight. Bid debt. There is no way JetBlue is goign to get itself get saddled with that dog.
01-28-2024 | 09:37 AM
#25
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
Yes, the premise of this entire thread is ridiculous. Each party (CEO and ALPA) made the best low-risk/low cost decsion.
Of course the CEO asked for public support. There was zero downside, and it was free. He probably told his gardener to write the judge. Why not?
And for Spirit ALPA, again. Their play had almost no downside, aside from the second-guessing here. There was much more upside to trying to leverage their support for better terms than throwing in their support from the beginning.
The real question is why we're even talking about this merger at all. Spirit is worth a fraction of JetBlue's bid from 18 months ago. No profitiability in sight. Bid debt. There is no way JetBlue is goign to get itself get saddled with that dog.
Of course the CEO asked for public support. There was zero downside, and it was free. He probably told his gardener to write the judge. Why not?
And for Spirit ALPA, again. Their play had almost no downside, aside from the second-guessing here. There was much more upside to trying to leverage their support for better terms than throwing in their support from the beginning.
The real question is why we're even talking about this merger at all. Spirit is worth a fraction of JetBlue's bid from 18 months ago. No profitiability in sight. Bid debt. There is no way JetBlue is goign to get itself get saddled with that dog.
01-28-2024 | 09:56 AM
#26
Line Holder
Joined: Jan 2015
Posts: 467
Likes: 70
The point is, the Spirit MEC thought their support had enough value/consequence on the process that they could withhold that support for money. You don't get big chunks of money for nothing. They believed their support had enough consequence that they could leverage a big pay day out of the deal. But now you're telling me their was no value in their support?
01-29-2024 | 05:37 AM
#27
Gets Weekends Off
Joined: Mar 2017
Posts: 4,174
Likes: 156
I wouldn’t be surprised if the CEO JB made a call to Schumer to kill this deal. It’s simply not worth the value it once was.
01-29-2024 | 09:50 AM
#28
Line Holder
Joined: Dec 2022
Posts: 1,372
Likes: 141
Honestly very little has changed other than the scope of the engine issues since the merger was announced. Spirit wasn’t viable back then as a stand alone but had a longer runway for borrowing. The engine issues and debt are squeezing spirit from both ends. Can’t make money and can’t get money. Everything JetBlue wanted with spirit hasn’t changed much
01-29-2024 | 10:10 AM
#29
Line Holder
Joined: Jul 2011
Posts: 476
Likes: 1
Honestly very little has changed other than the scope of the engine issues since the merger was announced. Spirit wasn’t viable back then as a stand alone but had a longer runway for borrowing. The engine issues and debt are squeezing spirit from both ends. Can’t make money and can’t get money. Everything JetBlue wanted with spirit hasn’t changed much
01-29-2024 | 10:16 AM
#30
Line Holder
Joined: Dec 2022
Posts: 1,372
Likes: 141
Nothing is super about a large ULCC. It really wouldn’t be much bigger than JetBlue is on its own and it’s a failed model at scale. I doubt that was their reason
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