make comments at regulations.gov about the complete ridiculousness of government pandering in “free markets”

 

How free were the markets when Uncle Sugar gave every airline grants and offered cheap loans 4 years ago?

 

Well, you got me. Except for the fact that the very job of the government is to protect and support the nation they represent. They absolutely have allowed which in my opinion they shouldn’t have a say on what companies own, buy, merge with or acquire four giants. Now when some little players want to join a better conference that’s all of the sudden anticompetitive.

Now the government is spending Taxpayer money inquiring how we feel about it. They don’t care how you feel about it, but they’d like to spend money. It’s B.S. they should stay out of the way and let free markets determine who succeeds and who fails.

 

The bond holders do not stand to lose anything. There are more than enough assets to sell that they could recoup their assets. Why would be bond holders now want to risk exchanging their 8% interest rate on $3B for equity that could go to zero? The people that bought those bonds bought a bond that paid an interest rate based on risk. They aren't private equity investors willing to lose everything. Bonds have conditions and the people and funds that invested in those bonds did so to capture a steady return and not buy stock in Spirit. If they wanted to do that they could have just bought spirit stock.

The bond fund guidelines likely won't allow the managers to do a conversion to anything other than another bond.

You can bet that the bondholders (not the bond managers) are going to fight any conversion of their relatvely safe, asset backed bonds to some other risky asset class regardless of the "potentially bigger financial upside".

 

Sir, you’re the equivalent of a private pilot yelling at the flight crew for a hard landing. Leave corporate finance to the professionals and put on you white new balances and take your wife for a walk.

 

what are all the assets currently owned by spirit that are more than enough to recoup? I’m curious what all you’re considering as assets?

 

We don’t own squat- besides the headquarters, a few sims, and maybe some gates.

 

exactly, which is why I posed the question to friendly what were the assets he thought we had that would more than cover the lenders. We just sold most of the most of the only airplanes we own. All we have left, are what you mentioned.

 

There is literally a list of assets on every quarterly filing, as there will be once again for Q3.

 

Ok well - I haven’t looked at the quarterly filing for a list of all the assets - my question still stands to friendly. Are they enough that, if sold, make the lenders whole?