So how’s this gonna work out?
03-29-2024 | 11:56 AM
#51
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Joined: Mar 2020
Posts: 305
Likes: 16
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.
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.
03-29-2024 | 12:28 PM
#52
Banned
Joined: Jul 2023
Posts: 633
Likes: 32
03-29-2024 | 12:50 PM
#54
Gets Weekends Off
Joined: Jan 2018
Posts: 2,837
Likes: 278
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.
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.
03-29-2024 | 01:00 PM
#55
Almost there
Joined: Apr 2021
Posts: 2,009
Likes: 142
I can't speak for people who have an agenda, but I wouldn't listen to what anyone says on the matter. You can do the math yourself. Spirit currently burns roughly 100 million per quarter, and has been pretty consistent in that number since Covid. They currently have roughly 900m in cash and 1.5m in current assets. That gives them a runway of 9-15 quarters at the current burn rate. They have a large debt payment of 1.1B due in 2025 that will need to get refinanced at astronimcal rates or it could potentially sink the company. I think it is possible to turn it around, get to profitability, and then figure out that 1.1B debt payment, but I don't think this management team is capable of doing it. They've already sold and leased back some of their aircraft, so they are running out of assets to leverage.
03-29-2024 | 01:36 PM
#57
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Joined: Sep 2021
Posts: 439
Likes: 30
20 or so deliveries this year, mostly 321neo. More and more neos being pulled from service for engine AD.
03-29-2024 | 01:47 PM
#58
Thread Starter
Gets Weekends Off
Joined: Oct 2017
Posts: 3,469
Likes: 44
like a little more duct tape or WD-40 or whatever can get the job done??
03-29-2024 | 01:49 PM
#59
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Joined: Sep 2021
Posts: 439
Likes: 30
My understanding is that the planes are already sold and they can't cancel those sales. The planes themselves can fly indefinitely as long as they pass heavy checks. The 320 series has no hard life limit.
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