Spirit Airlines Ch.11

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06-12-2024 | 03:49 PM

#71

CatPilot1

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Will being the sole earner make it harder to get a pool loan if that persons company is chapter 11? I’m guessing chapter 7 will, but chapter 11? Asking for a friend if one should go ahead and pull the trigger on a pool loan now.

06-12-2024 | 04:07 PM

#72

rickair7777

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Joined: Jan 2006

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From: Engines Turn or People Swim

Quote:

Originally Posted by CatPilot1

"Income Stability" matters to lenders. Chapter 7 will affect your ability to get a loan, because everyone including you will be unemployed, except for a handful of admin people (like you can count the number on one hand).

I've never been asked about my employer's status in that regard for any loan but in the case of a big public company like an airline I'd assume the bankers will know or google will tell them about a chapter 11 filing. They'd presumably consider that. The bigger and longer the loan, the more they'd be concerned.

06-12-2024 | 04:21 PM

#73

Halon1211

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Quote:

Originally Posted by CatPilot1

if you can afford it right now and don’t plan on leaving anytime soon then do it.

06-12-2024 | 04:26 PM

#74

LongHornFlyer

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Joined: Sep 2021

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Quote:

Originally Posted by CatPilot1

Great time to buy that Porsche and boat too! What could go wrong?

06-12-2024 | 04:32 PM

#75

Noisecanceller

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Joined: Dec 2022

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Quote:

Originally Posted by DapperDon

chapter 7 much more likely. The pieces are worth more than the enterprise. There will be a lucrative bidding war for the pieces.

I’m an idiot but I disagree. You could get all the airbuses at spirits current lease rates instead of them going back to the lessor and the lessor setting them to the current market price which I presume is much more. Again it’s going to take shedding the debt in ch11 first IMO

06-12-2024 | 04:50 PM

#76

CatPilot1

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Quote:

Originally Posted by Halon1211

if you can afford it right now and don’t plan on leaving anytime soon then do it.

That’s what I’ve been telling my significant other. They think it’s risky, but i just keep regurgitating the old adage; the only way to eliminate all risk is to never leave the gate; or something along those lines.

06-12-2024 | 05:02 PM

#77

Halon1211

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OK let’s take a break from all this doom and gloom and have a laugh for two.

just came across this persons profile and it’s pretty good.

seriously need to stop it with all these stupid pilot influencers.

https://www.instagram.com/thatsaltyp...Jndmtpd2hyMQ==

06-12-2024 | 06:40 PM

#78

CatPilot1

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Joined: Jul 2023

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Quote:

Originally Posted by Halon1211

Interesting…im that pathetic yet I’m not represented. Something is wrong with them.

Jordan and Gary Kelly gave me a letter of recommendation's for an interview at SW. I knew I was screwed when BigErn(big earn makes a lot of money; get it…big earnings….)YouTube guy walked into the interview. I sharted while laughing…and excused myself.

Last edited by CatPilot1; 06-12-2024 at 06:53 PM.

06-12-2024 | 07:18 PM

#79

rickair7777

Prime Minister/Moderator

Joined: Jan 2006

Posts: 45,120

Likes: 796

From: Engines Turn or People Swim

Quote:

Originally Posted by Halon1211

That's 30 minutes I'm not getting back.

06-13-2024 | 03:53 PM

#80

SpeedBrakes

CA-ORD

Joined: Mar 2022

Posts: 191

Likes: 0

Quote:

Originally Posted by Halon1211

The constant attention you need and seek on here with your daily multiple posts/topics isn't enough for you, now you have to share your IG profile? Serioulsy man, go outside and put the keyboard away for awile. Pathetic...