Airline Pilot Central Forums

Airline Pilot Central Forums (https://www.airlinepilotforums.com/)
-   Spirit (https://www.airlinepilotforums.com/spirit/)
-   -   Okay guys, what’s the plan? (https://www.airlinepilotforums.com/spirit/146596-okay-guys-whatis-plan.html)

Flika 03-08-2024 07:47 PM

My 2 pennies:

In tough situtations I put myself in the situation of the descision makers. If i'm TC, I don't want to be the first major airline to furlough since COVID. He likely knows that is what he will be remembered for, so he will do whatever it takes to be a profitable, standalone airline. Will we become that? That remains to be seen. It will likley come down to the debt holders, if they're willing to renegotiate, and in my opinion, it's becoming more likely with the boeing/UAL/SWA struggles as of late.

Flika 03-08-2024 07:51 PM


Originally Posted by Irishblackbird (Post 3779347)
Well Ted and Co did a superficial stock purchase yesterday. Problem is that was their "tell". It was such a miniscule purchase that none of them would be hurt if we liquidate. It's a nervous bluff in my book, not any real confidence in the "supposed" plan. Or they would have been all in.

Sorry for the lousy metaphor.

C-suite people just can't purchase and sell stock day of, their purchases and sales are made probably weeks in advance. To say none of them would be hurt if we liquidate is nonsense. many of the C-suite hold 100,000+ of shares, most of which was accumlated well before the merger was denied.

putzin 03-08-2024 08:09 PM


Originally Posted by Flika (Post 3779365)
My 2 pennies:

In tough situtations I put myself in the situation of the descision makers. If i'm TC, I don't want to be the first airline to furlough since COVID. He likely knows that is what he will be remembered for, so he will do whatever it takes to be a profitable, standalone airline. Will we become that? That remains to be seen. It will likley come down to the debt holders, if they're willing to renegotiate, and in my opinion, it's becoming more likely with the boeing/UAL/SWA struggles as of late.

Both of your posts are spot on, there is so much out there that is complete nonsense. Not a single paycheck has bounced, plane repossessed, airplane not fueled but we're hours from shutting down? People need to get a grip.

DrSteveBrule 03-08-2024 08:31 PM

You're nuts if you are not worried.

putzin 03-09-2024 03:38 AM


Originally Posted by DrSteveBrule (Post 3779370)
You're nuts if you are not worried.

What will that accomplish? Did I say we won't file either 11 or 7? All I'm implying is it's not happening tomorrow and there is plenty of time to find a job. The places that are pausing at this time are for deliveries, not because "the music has stopped" though we may have peaked. Things never change over night nor will this. The big IF is can Ted dig it out.

StoneQOLdCrazy 03-09-2024 04:15 AM


Originally Posted by putzin (Post 3779399)
The big IF is can Ted dig it out.

Well, over the past copule of years, he hasn't been able to earn a profit it in the most robust and lucrative liesure air travel environment ever. And that was before the GTF issue.

The question is, why would he be able to "dig it out" now, when that boom is cooling (althought business travel seems to be trickling back) and there are much more significant issues to contend with?

I don't think anyone except maybe jetblue wants spirit to declare BK and de-stabilize the industry. But the writing is on the wall, unfortunately. And as always, through no fault of the pilots.

VacancyBid 03-09-2024 04:46 AM


Originally Posted by Flika (Post 3779366)
To say none of them would be hurt if we liquidate is nonsense..

It is nonsense and he didn't say that.

He said that losing the stock _they bought that day_ wouldn't hurt them. The purchases in question
  • Rocky Wiggins, SVP and chief information officer, acquired 1,248 shares, spending USD7,188.48;
  • Edward M. Christie, president and CEO, acquired 2,252 shares, spending USD12,971.52;
  • Matthew Klein, EVP and CCO, acquired 3,277 shares, spending USD18,875.52;
  • Scott Haralson, EVP and chief financial officer, acquired 1,011 shares, spending USD5,828.36;
  • John A. Bendoraitis, EVP and chief operating officer, acquired 2,821 shares, spending USD13,138.56;
  • Kevin Blake Vanier, VP finance and strategy, acquired 1,058 shares, spending USD6,094.08;
  • Brian J. McMenamy, VP and chief accounting officer, acquired 131 shares, spending USD745.56; and
  • Thomas C. Canfield, SVP general counsel and secretary, acquired 967 shares, spending USD5,569.92.

I got this from an article with the headline "c-levels-at-uss-spirit-airlines-go-on-stock-shopping-spree"

It looks like a token investment ($70K between 8 execs) meant to generate rosy headlines. It doesn't shout confidence in a turnaround / buy the dip.

putzin 03-09-2024 04:47 AM


Originally Posted by StoneQOLdCrazy (Post 3779403)
Well, over the past copule of years, he hasn't been able to earn a profit it in the most robust and lucrative liesure air travel environment ever. And that was before the GTF issue.

The question is, why would he be able to "dig it out" now, when that boom is cooling (althought business travel seems to be trickling back) and there are much more significant issues to contend with?

I don't think anyone except maybe jetblue wants spirit to declare BK and de-stabilize the industry. But the writing is on the wall, unfortunately. And as always, through no fault of the pilots.

Lets come back to this in 3-6 months I'm not interested in circles. I will ask why you think or how one BK destabilizes the rest of an industry that is doing 'fine'? Well except maybe Frontier, I could see our BK hurting them. Interesting theory.

I'll leave it at this, BK isn't the end of the world.

putzin 03-09-2024 05:10 AM


Originally Posted by VacancyBid (Post 3779409)
It is nonsense and he didn't say that.

He said that losing the stock _they bought that day_ wouldn't hurt them. The purchases in question
  • Rocky Wiggins, SVP and chief information officer, acquired 1,248 shares, spending USD7,188.48;
  • Edward M. Christie, president and CEO, acquired 2,252 shares, spending USD12,971.52;
  • Matthew Klein, EVP and CCO, acquired 3,277 shares, spending USD18,875.52;
  • Scott Haralson, EVP and chief financial officer, acquired 1,011 shares, spending USD5,828.36;
  • John A. Bendoraitis, EVP and chief operating officer, acquired 2,821 shares, spending USD13,138.56;
  • Kevin Blake Vanier, VP finance and strategy, acquired 1,058 shares, spending USD6,094.08;
  • Brian J. McMenamy, VP and chief accounting officer, acquired 131 shares, spending USD745.56; and
  • Thomas C. Canfield, SVP general counsel and secretary, acquired 967 shares, spending USD5,569.92.

I got this from an article with the headline "c-levels-at-uss-spirit-airlines-go-on-stock-shopping-spree"

It looks like a token investment ($70K between 8 execs) meant to generate rosy headlines. It doesn't shout confidence in a turnaround / buy the dip.

Offs, nobody, well except dumbass pilots, buys the dip on a company heading towards bankruptcy, especially C level execs! They didnt become multi-millionaires by being stupid. And I suppose you're subscribing to the theory Jblu spent 500 million on a merger they didn't think would happen so they could hurt a competitor that doesn't directly compete with them? You know because that's fiscally responsible. 🙄

Noisecanceller 03-09-2024 05:20 AM


Originally Posted by Flika (Post 3779365)
My 2 pennies:

In tough situtations I put myself in the situation of the descision makers. If i'm TC, I don't want to be the first major airline to furlough since COVID. He likely knows that is what he will be remembered for, so he will do whatever it takes to be a profitable, standalone airline. Will we become that? That remains to be seen. It will likley come down to the debt holders, if they're willing to renegotiate, and in my opinion, it's becoming more likely with the boeing/UAL/SWA struggles as of late.

Remembered for? He’s already remembered for Pinnacle, Mesaba, Colgan. The other guy is already remembered for Northwest. I don’t think they care how history views them. They aren’t major players


All times are GMT -8. The time now is 11:35 AM.


Website Copyright © 2026 MH Sub I, LLC dba Internet Brands