I agree. If NK goes into CH13, can the judge change the contract/compesation and lower pay/benefits without a union vote?

YES.
Filler

It would be Chapter 11. Yes, pretty much all union contracts are vaporized in bankruptcy proceedings.

They’re open for renegotiation like all agreements in ch 11. Not vaporized. Point being rates/retirement are the easiest targets. It’s not hard to show the reorganization math on a balance sheet to investors. Work rules normally come out pretty much intact. Making them even more valuable to hold on to in normal sec 6.

Well that is a bunch of BS. Im sure the C Suite Execs will get a golden parachute and labor takes it in the rear....Hope it does not come to that.

No No No No

No absolute lie

Finally! Something industry standard that we can actually achieve!

Chapter 11 is voluntary reorganization.

Chapter 7 is go out of business. Divide up all the assets and turn off the lights.

Look. I’m well aware of the current financial status of the company. Everyone is. Fact is, a human that works for Spirit airlines, possibly management-type, determines the numbers and how they pertain to the balance sheet. Simply put, the same people that release the information regarding the financial statistics of the company, have said nothing about being unable to pay the bills.

So, why do some take the companies word on the loss, but don’t take their word when they say they have a plan to return to profitability? Believe one story but not the other? Makes no sense.