Airline Pilot Central Forums - Will BRAVO take us to the promised land?

Airline Pilot Central Forums (https://www.airlinepilotforums.com/)

- Spirit (https://www.airlinepilotforums.com/spirit/)

- - Will BRAVO take us to the promised land? (https://www.airlinepilotforums.com/spirit/148706-will-bravo-take-us-promised-land.html)

Quote:

Originally Posted by Noisecanceller (Post 3854791)

I tried to go back and understand it. Way to complex for me to understand. They are definitely getting 100% of a $350M equity offering but I’m not sure what that means in regards to control of the business. I couldn’t find an answer.

It would be nice if ALPA could break down the ownership of the company in “the plan” upon exiting bankruptcy in March.

Maybe the company should do that. Why is that the union's job?

Quote:

Originally Posted by VacancyBid (Post 3854780)

I think they're getting all of it. That's the deal. Current stock goes away - new stock goes to bondholders.

They are going to issue millions and millions of new shares of stock if they emerge. The bondholders doen't want control they want $$$$.

Quote:

Originally Posted by CincoDeMayo (Post 3854603)

Which is why you’ll never see business travel on us.

Simply, the he clientele Spirit is seeking won’t fly Spirit because its Spirit.

Spirit needs a new name, period. The name Spirit is always the punchline, right before the drum fill “ba dum dum”. Pinnacle Airlines changed their name to Endeavor after emerging from Chapter 11. Spirit needs to do the same. Sadly, we don’t even have the cash to slap a new name on a plane.

How do you go about rebranding a 200 airplane airline, new paint, new interiors, new airport branding, with limited resources, in a timeframe that allows the targeted customer to forget its spirit?

endeavor can call itself something new every month and no one cares because it’s still delta connection.

Quote:

Originally Posted by Judge Smails (Post 3854862)

Maybe the company should do that. Why is that the union's job?

BC now they don’t have to answer to anyone. They don’t have to give an explanation so they won’t. All the answers are in a couple 300+ page documents of legalese. Alpa has lawyer that are familiar and versed in this stuff. Breaking it down for us non-lawyers would be nice

Quote:

Originally Posted by zoooropa (Post 3854879)

They are going to issue millions and millions of new shares of stock if they emerge. The bondholders doen't want control they want $$$$.

This is kind of what I thought but couldn’t find an answer skimming the docs

Quote:

Originally Posted by CincoDeMayo (Post 3854603)

The main reason you wont see any meaningful business travel on Spirit is that most major company travel policies specifically prohibit booking ULCC.
For example, my airline (and we are nr3 company in the country in travel spend) can not book Spirit or Frontier unless we specifically request it, Southwest is allowed in certain city pairs.
Most companies that spend heavily on travel have similar restrictions.
That is the hurdle NK has to figure out if they want to cater for the heavy hitter business travelers.

Quote:

Originally Posted by dera (Post 3855067)

For example, my airline (and we are nr3 company in the country in travel spend

huh???

——

Quote:

Originally Posted by Noisecanceller (Post 3854941)

. Alpa has lawyer that are familiar and versed in this stuff. Breaking it down for us non-lawyers would be nice

I’m pretty sure alpa does not have any bankruptcy or corporate finance attorneys on staff.

Quote:

Originally Posted by Halon1211 (Post 3855106)

huh???

——

Huh what?

2022 we spent $212 million in travel and half the world was still shut down. This year we'll exceed $300 million.
This year I've spent over $100k and that doesn't include direct-bill hotels (which are probably around 90% of my hotel stays).

As a comparison, Coca Cola Company spent $27.5 million in 2023.