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Okay guys, what’s the plan?
Analyst keeps saying we are heading towards bankruptcy and bond holders are already plotting how they going to take our assets. TC says we are fine and even testified under oath that we are NOT a “failing firm”. This is a nail bitter…I’m on the edge of my seat to see the rabbit that Spirit is about to pull out of their hat. It seems like we are up a creek without a paddle yet all is well. What magic trick is Spirit about to perform. And how does Spirit go from here? |
Still waiting on a class date?
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Originally Posted by checkgear
(Post 3779308)
Still waiting on a class date?
at the rate this is going, I’ll be on the streets waiting for a class date. |
get bondholders their money, you get nothing
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Originally Posted by Halon1211
(Post 3779305)
Analyst keeps saying we are heading towards bankruptcy and bond holders are already plotting how they going to take our assets. TC says we are fine and even testified under oath that we are NOT a “failing firm”. This is a nail bitter…I’m on the edge of my seat to see the rabbit that Spirit is about to pull out of their hat. It seems like we are up a creek without a paddle yet all is well. What magic trick is Spirit about to perform. And how does Spirit go from here?https://finance.yahoo.com/news/why-s...152035207.html “No merger and a perilous balance sheet“ |
Wendy's dumpster
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Originally Posted by putzin
(Post 3779335)
Threre isn't enough for them either, hence why they're all worried. It keeps moving along in hopes Teddy can dig it out is about their only choice. The airline hasn't been run for 2 years and were along for the ride. People need to stop worrying.
Sorry for the lousy metaphor. |
Buy more bitcoin, smoke more dope, bang more hookers. That's my plan. (Not necessarily in that order....)
Wait, was it bang more bitcoin, smoke more hookers, and buy more dope? 🤔 |
Originally Posted by Tranquility
(Post 3779348)
Buy more bitcoin, smoke more dope, bang more hookers. That's my plan. (Not necessarily in that order....)
Wait, was it bang more bitcoin, smoke more hookers, and buy more dope? 🤔 and they all want in on the action. |
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. There is no way to plan for doors shutting, you'll never know the timeline. You'll show up one day and there will be a chain on the door. That's how it works. |
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. |
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. |
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. |
You're nuts if you are not worried.
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Originally Posted by DrSteveBrule
(Post 3779370)
You're nuts if you are not worried.
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Originally Posted by putzin
(Post 3779399)
The big IF is can Ted dig it out.
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. |
Originally Posted by Flika
(Post 3779366)
To say none of them would be hurt if we liquidate is nonsense..
He said that losing the stock _they bought that day_ wouldn't hurt them. The purchases in question
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. |
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. I'll leave it at this, BK isn't the end of the world. |
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
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. |
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. |
Originally Posted by Noisecanceller
(Post 3779415)
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
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Originally Posted by putzin
(Post 3779410)
. I will ask why you think or how one BK destabilizes the rest of an industry that is doing 'fine'?
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. |
Originally Posted by putzin
(Post 3779369)
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.
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Originally Posted by Born2FlyAv8R
(Post 3779441)
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.
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. |
Originally Posted by StoneQOLdCrazy
(Post 3779444)
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. |
Originally Posted by CatPilot1
(Post 3779450)
I find it hard to believe any executive would spend their own money to create positive press. Good grief.
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 |
Originally Posted by StoneQOLdCrazy
(Post 3779460)
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. smh |
Originally Posted by StoneQOLdCrazy
(Post 3779419)
shed debt from lenders/vendors, and artificially reset labor costs to below-market rates..
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. |
Originally Posted by StoneQOLdCrazy
(Post 3779444)
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. |
Originally Posted by StoneQOLdCrazy
(Post 3779419)
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. |
Originally Posted by born2flyav8r
(Post 3779477)
good grief! 🤣😂🤣😂🤣
......... |
Originally Posted by putzin
(Post 3779413)
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. 🙄
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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
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. I'm not delusional, I understand the situation we are in, but at the same time a lot of the doom and gloom/conspiracy theories spread in the last few month are absolute non sense. |
Originally Posted by Flika
(Post 3780180)
Again, if you think the c-suite can just buy stock the day or even week of bad press you are sadly mistaken, if they were bought, this trade was done well before the merger was terminated. If you are even a spirit employee you'll know TC has address this in the past, and you'll know most of them are compensated with stock, so we have no idea under what circumstances these shares were acquired. Not only that, If you do further research you'll see TC alone owns over 200,000 shares of spirit stock. Even to a millionare, a stock that was once worth 50+,going to 0 at 200,000 a pop is gonna hurt.
I'm not delusional, I understand the situation we are in, but at the same time a lot of the doom and gloom/conspiracy theories spread in the last few month are absolute non sense. |
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