So how’s this gonna work out?
03-27-2024 | 08:53 AM
#32
Line Holder
Joined: Dec 2019
Posts: 339
Likes: 0
From: A320 For Your Health
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
Line Holder
Joined: Apr 2007
Posts: 1,412
Likes: 12
From: A320
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
On Reserve
Joined: Jan 2017
Posts: 99
Likes: 40
“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 | 10:28 AM
#35
Line Holder
Joined: May 2015
Posts: 490
Likes: 41
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
Line Holder
Joined: Apr 2007
Posts: 1,412
Likes: 12
From: A320
“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
Line Holder
Joined: Mar 2020
Posts: 305
Likes: 16
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
Line Holder
Joined: Mar 2018
Posts: 383
Likes: 30
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
Line Holder
Joined: Sep 2014
Posts: 1,691
Likes: 21
From: 60’s Tech, Right
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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