So how’s this gonna work out?
03-27-2024, 08:53 AM
#32
Gets Weekends Off
Joined APC: Dec 2019
Position: A320 For Your Health
Posts: 290
Originally Posted by Billy Tate
Spirit hasn't made money since 2019, has lost Billions over the last couple years. Spirit has a demand problem, debt problem, attrition problem, revenue stream problem, business model problem, ugly livery problem, NEO engine problems, and worst reputation in the industry problem. You think all of a sudden the new "Transition" team will fix all of this lol. It's called transitioning into Bankruptcy . What's currently happening can only continue for so long.
I agree engines are a definitive problem. I agree reputation is a definitive problem. Outside of that, Florida ATC is a definitive problem. Biden admin policy is a definitive problem. Still remarkable to me the Biden DOT is looking to effectively eliminate the strengths of ULCC model while the Biden DOJ has successfully argued the ULCC model is a public necessity.
03-27-2024, 09:17 AM
#33
Gets Weekends Off
Joined APC: Apr 2007
Position: A320
Posts: 1,308
Originally Posted by Billy Tate
Spirit hasn't made money since 2019, has lost Billions over the last couple years. Spirit has a demand problem, debt problem, attrition problem, revenue stream problem, business model problem, ugly livery problem, NEO engine problems, and worst reputation in the industry problem. You think all of a sudden the new "Transition" team will fix all of this lol. It's called transitioning into Bankruptcy . What's currently happening can only continue for so long.
03-27-2024, 09:53 AM
#34
Line Holder
Joined APC: Jan 2017
Posts: 57
Originally Posted by afterburn81
Wait. Who told you Spirit wasn’t making any money? Did Ted or Bendo say this?
03-27-2024, 10:28 AM
#35
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Joined APC: May 2015
Posts: 459
Originally Posted by Billy Tate
Spirit hasn't made money since 2019, has lost Billions over the last couple years. Spirit has a demand problem, debt problem, attrition problem, revenue stream problem, business model problem, ugly livery problem, NEO engine problems, and worst reputation in the industry problem. You think all of a sudden the new "Transition" team will fix all of this lol. It's called transitioning into Bankruptcy . What's currently happening can only continue for so long.
03-27-2024, 11:07 AM
#36
Gets Weekends Off
Joined APC: Apr 2007
Position: A320
Posts: 1,308
Originally Posted by BlueJuicer17
“Current and historical gross margin, operating margin and net profit margin for Spirit Airlines (SAVE) over the last 10 years. Profit margin can be defined as the percentage of revenue that a company retains as income after the deduction of expenses. Spirit Airlines net profit margin as of December 31, 2023 is -8.34%.”
03-27-2024, 03:03 PM
#38
Gets Weekends Off
Joined APC: Mar 2020
Posts: 146
Originally Posted by DrSteveBrule
Demand isnt a problem, oversaturation caused by the company's Florida strategy is a problem. Attrition is no longer a problem. If one hasnt achieved a cjo elseware, then one is stuck here for at least another year. Spirit is currently overstaffed by 10 to 15%. We've got people on reserve that havent flown for two months or longer, and as far as negotiating a contract goes, lol im sure it's gonna be a laughable several years...if the company survives.
I agree engines are a definitive problem. I agree reputation is a definitive problem. Outside of that, Florida ATC is a definitive problem. Biden admin policy is a definitive problem. Still remarkable to me the Biden DOT is looking to effectively eliminate the strengths of ULCC model while the Biden DOJ has successfully argued the ULCC model is a public necessity.
I agree engines are a definitive problem. I agree reputation is a definitive problem. Outside of that, Florida ATC is a definitive problem. Biden admin policy is a definitive problem. Still remarkable to me the Biden DOT is looking to effectively eliminate the strengths of ULCC model while the Biden DOJ has successfully argued the ULCC model is a public necessity.
03-27-2024, 03:27 PM
#39
Gets Weekends Off
Joined APC: Mar 2018
Posts: 287
I’m amazed some people still think everything is okay. There’s no viable path that doesn’t include BK. Frankie is going to end up owning the company for half of his original offer. You think they’re going to tell anyone it’s coming? Everyone will find out when we wake up and see it on the news.
03-27-2024, 04:19 PM
#40
Gets Weekends Off
Joined APC: Sep 2014
Position: Da Bus, Left
Posts: 1,510
Pilot pay is not the contributing factor to our financial distress. Let me emphasize that point; WE ARE NOT THE PROBLEM! No amount of wage cuts have ever staved off an eventual bankruptcy; full pay till the last day DAMMIT! (Especially at this company.). And, halving gone through a bankruptcy, it is NOT the end of the world. It's not ideal, but the end isn't near either. When we see the 1113 term sheet, we'll collectively **** our pants, negotiate something better, and things will churn....
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