If bankruptcy was right around the corner these two would be shown the door already, but they’re still here. Can someone explain this.

 

When one player is permitted to shed debt from lenders/vendors, and artificially reset labor costs to below-market rates...and other players are not availed of those tools...that is quite destabilizing.

Any narrative silmilar to "BK won't be that bad" is wishful thinking at best, and cynical dissembling at worst.

 

I heard Christie is out and Bendo is the stepping up.

From and insider:Barging through the door unannounced came Bill Bendo, Ted's ambitious COO and longtime rival. With a smug grin, Bendo plopped a report on Ted's mahogany desk.

"Hate to be the bearer of bad news, but Q4 numbers are uglier than a Spirit passenger who just learned about our bag fees," Bendo quipped. "The board is concerned, Ted. Very concerned."

Ted clenched his jaw. He knew exactly what Bendo was angling for - his job.

"I've kept this airline flying through a pandemic, soaring fuel costs, and PR disasters. We'll bounce back," Ted retorted.

 

https://www.flightglobal.com/airline...157316.article

If these people can find money, I’m pretty sure Ted can too.

 

I’m with you on this, I am just amazed at peoples “definitive” responses which cannot even be called educated guesses. Some of whom left years ago but still come in here and post their negative rhetoric. News flash - if you were this good at predicting the future, you wouldn’t be here as a pilot would you? The “writing” is not on the wall, the show hasn’t stopped, it not all but over, those of us who are not worried, are not nuts. I don’t care how much money I make, as a CEO, if I thought the company were heading towards immediate BK, I wouldn’t spent 13k on the stock. I think it’s a good sign. The headline tomorrow could be “spirit shows record profits in 2024 Q1 reports, and many of you would still find negativity. If this is how a lot of you lead your daily lives, by worrying about everything and being nothing but negative, I have pity for you. Worrying does nothing but cause stress, and stress does nothing but take time away from you life. Now I’ll sit back and wait for the heckles.

 

Good grief. Do you not understand that he did not make a $13,000 investment in Spirit stock?

He paid $13,000 for a few hours of non-negative media coverage and an attempt to create a PR narrative, specifically within the employee ranks, to try to convince you all is well. Which you have bought hook, line and sinker.

 

I find it hard to believe any executive would spend their own money to create positive press. Good grief.

 

You find it hard to believe a guy would spend $13,000 to build a narrative that helps him keep a job that pays millions of dollars a year?

OK, then. Just keep spreading the narrative that he "invested" $13,000 in Spirit stock because he thinks it's a solid buy. That seems much more reasonable. smh

 

I find it hard to believe he would believe anyone would buy it. I don’t think anyone did, hence the continual drop in stock price. He could make a statement for free if he wanted to create a positive buzz at anytime, but for whatever reason he has chosen not to.

 

I can't find a source/details, but there have been changes since 2008 that make bankruptcy much less certain for whacking labor costs.

As for the concessions from lenders/vendors ... the main asset is airplanes (and maybe gates/slots). And they're gonna go to the highest bidder. This isn't the middle of a wordlwide slump where the lender is just happy to have someone paying something every month.