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Old 06-06-2024 | 06:55 PM
  #111  
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Originally Posted by Macjet
Anyone who thinks that SAVE can avoid bankruptcy at this point is more than likely dilusional. Or then own so many shares of SAVE @ $15 that they NEED this company to survive. I couldn't image having my income and retirement in the same bucket. I don't think a single investment advisor on the planet would advise such. I hope for their sakes it works out but I'm not betting on it.
Old 06-06-2024 | 08:12 PM
  #112  
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Originally Posted by Halon1211
Who has more bankruptcies? Ted or Trump?

Both personally wealthy somehow
Old 06-07-2024 | 05:29 AM
  #113  
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Originally Posted by Noisecanceller
Who has more bankruptcies? Ted or Trump?

Both personally wealthy somehow
does anyone one here with past airline experience no how long soon after bankruptcy the airline is allowed to force a new contract on us with a lower pay rate? What is the process like?
Old 06-07-2024 | 06:09 AM
  #114  
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Originally Posted by Halon1211
does anyone one here with past airline experience no how long soon after bankruptcy the airline is allowed to force a new contract on us with a lower pay rate? What is the process like?
When/if they file BK, the BK judge will be assigned and a creditors committee will be formed. Then if the company mgmt can form a viable plan considering labor/equip/facilities going forward, they will make a plan to submit to the committee/judge which may include things like forced labor contract changes, lease changes, etc. The committee can also consider other offers by 3rd parties to buy assets and/or just proceed with liquidation. It's up to the committee and judge which path is most viable and labor/smaller creditors are mostly along for the ride. Of course politics/money/influence all have huge stakes in the process.

It's not good for anyone, especially labor and if nothing else, is actually very expensive because the many lawyers involved get PAID BANK!
Old 06-07-2024 | 06:46 AM
  #115  
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Originally Posted by Noisecanceller
You don’t burn down to zero. A bankruptcy (restructuring or liquidation) filing would come before that. Ted said in the last town hall the expect news on the debt due 2025 and 2026 this summer. My guess is if no renegotiation on that by September a bankruptcy filing will be right after
This is actually an accurate observation. You can't burn to zero. Under chapter 11 reorginization, you have to have some kind of assets to keep operating. If you've burned to zero (cash & short term instruments), and have no assets to operate, then it's chapter 7.
Old 06-11-2024 | 05:59 AM
  #116  
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Does anybody else find it Ironic that our CFO left one yellow & black company to another yellow & black company?

maybe if we would’ve just offered him a little more yellow he we would have stayed???
Old 06-11-2024 | 04:17 PM
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https://www.wsj.com/livecoverage/sto...meline_finance

can anybody remove this paywall and copy and post it?

my usual Paywall remover site isn’t working
Old 06-11-2024 | 04:50 PM
  #118  
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Originally Posted by Halon1211
https://www.wsj.com/livecoverage/sto...meline_finance

can anybody remove this paywall and copy and post it?

my usual Paywall remover site isn’t working
Basically:

Spirit says talks with bondholders 'progressing as expected,' delays analyst day In a regulatory filing, Spirit Airlines stated: "The company previously indicated it would host an Analyst Day in early August. Negotiations with its bondholders are progressing as expected. However, given the timing of several initiatives, management believes it will be beneficial to wait until later in the year to host an Analyst Day. The company plans to provide the date for the Analyst Day within the coming months."
Old 06-11-2024 | 05:14 PM
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Originally Posted by CatPilot1
Basically:

Spirit says talks with bondholders 'progressing as expected,' delays analyst day In a regulatory filing, Spirit Airlines stated: "The company previously indicated it would host an Analyst Day in early August. Negotiations with its bondholders are progressing as expected. However, given the timing of several initiatives, management believes it will be beneficial to wait until later in the year to host an Analyst Day. The company plans to provide the date for the Analyst Day within the coming months."
thanks!

Stuffing
Old 06-15-2024 | 03:16 PM
  #120  
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Originally Posted by NuGuy
This is actually an accurate observation. You can't burn to zero. Under chapter 11 reorginization, you have to have some kind of assets to keep operating. If you've burned to zero (cash & short term instruments), and have no assets to operate, then it's chapter 7.
Also airlines can't get anywhere near zero... the FAA will yank their cert due to the very obvious safety ramifications of being that broke. So Ch.7 for airlines is some number above zero.
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