Spirit to significantly shrink in restruct..
 

“significantly shrinks in a restructuring”

Is what TD Cowen says. Their analyst have been right all along for the past couple of years.

we are going to sell more aircraft and cancel our lease on existing ones.


kind of sounds like at this point we could just become like a 1500 pilot airline. But hey, this is good for the consumer though!


https://finance.yahoo.com/news/spiri...210338407.html

WSJ was leaked the 12b news ahead of time. Only a few folks have access to info like that.

It was chosen to leak the information early. Get the shareholders the scare of being wiped out.

Then state it in their official release. Now whatever alternate offer is received looks great compared to a fat goose egg! And shareholders approve it quickly and sale happens while administrations changes. Nobody from Biden admin will challenge it and would be too late for Trumps team to stop it. Spirit has most of all systems ready based on the almost sale to jet blue.

[QUOTE=Halon1211;3852489]“significantly shrinks in a restructuring”

Is what TD Cowen says. Their analyst have been right all along for the past couple of years.

we are going to sell more aircraft and cancel our lease on existing ones.


kind of sounds like at this point we could just become like a 1500 pilot airline. But hey, this is good for the consumer though!


https://finance.yahoo.com/news/spiri...210338407.html

Something else is going on in the background. They release wording that alerts shareholders that they will be wiped out. Soon the sub book value offer is presented and shareholders accept it vs th alternative of zero.WSJ was leaked the 12b news ahead of time. Only a few folks have access to info like that.

It was chosen to leak the information early. Get the shareholders the scare of being wiped out.

Then state it in their official release. Now whatever alternate offer is received looks great compared to a fat goose egg! And shareholders approve it quickly and sale happens while administrations changes. Nobody from Biden admin will challenge it and would be too late for Trumps team to stop it. Spirit has most of all systems ready based on the almost sale to jet blue.

It’s only speculation at this point, But we don’t know we could shrink to 500 pilots, we could close more bases. Or maybe just shut shop. No one here is safe at the moment weather we are number 1 or 3000

chapter 11 may be the best chance we have

Makes sense, these current furloughs are still the beginning. Betting our older planes will be sold next year for more liquidity and management will continue to burn the furniture to keep the lights on until there’s nothing left.

Strap in kids.

Spirit shareholders are already wiped out. Stock price is $1.13 today down over 97% from highs. Most lont term investors have already sold and are gone. What's left is noise trading or people that forgot they have $SAVE in some random stock account. Also why do you need to "scare" them? There are no merger offers on the table for them to agree to. Its not like the shareholders are holding anything up.

I doubt management is pretending to file BK and selling everything just to get shareholders to agree to some deal that doesn't even exist. The existing debt is the holdup for an acquisition. Nobody wants to deal with it. Its a massive headwind and even without the debt the airline probably still won't be profitable. Current losses are far more than the debt payments alone.

Exactly. They already hinted that they will shrink into a smaller airline. Which would happen anyway under an acquistion. I still believe their is a business here with the right partner. Scale is important in this business.

This. Ch 11 is their only option.

But it's not the end of the airline.

Strap in. Defend your contract the best you can.

Best of luck guys

Thanks Judge William Young!

****Thanks Robin and JetBlue!!!

Fixed it for you.