Originally Posted by AutoBrksMedium (Post 3882274)

Email just went out to the pilot group at F9 that they will no longer be pursuing NK.

Originally Posted by redhot (Post 3882146)

because they are not positioned to be successful on their own. If spirit has worse than projected revenue this summer the company will liquidate.

im honestly pretty shocked they couldn’t come to a deal. Spirit is acting like it’s not hundreds of millions of dollars in debt and has a position to demand top dollar on the market.

After Frontiers stock increase of 20% over the last week plus getting rid of the 350 million creditors would pay to get out of bankruptcy that’s literally almost a half a billion dollar swing in value.

I wish you all the best if this doesn’t get done, but for them to reject this is kind of absurd in their overvaluation of what they think spirit is worth.

or, they see more value for themselves in a liquidation down the road. Remember, if they can get the same amount of money or more in liquidation they will do it without thinking twice. These people do not care about you or your loved ones whatsoever and will do what benefits themselves.

Originally Posted by SSlow (Post 3882219)

Which is nice to see for a change. Market forces at work versus Franke's dream to see a mega ULCC with a subpar pilot contract in a dying business model with no long term future.

It would suck if we liquidate, but I would rather be forced to start over at a legacy as opposed to hearing PS talk about bites of the apple during a hypothetical JCBA process with Frontier.

The bondholders aren't a charity and neither is my career.

Originally Posted by TheRubberDucky (Post 3880115)

https://news.bloomberglaw.com/bankruptcy-law/spirit-airlines-extends-tender-deadline-again-to-feb-20

More time to work out a merger agreement?

Originally Posted by bluespoon (Post 3882253)

Or they are confident Spirit will get back to profitability.

Originally Posted by mudpie (Post 3882380)

I think a lot of bondholders were secured creditors and their money/investment is backed by the last of the Spirit assets, planes/gates/engines/etc. NK is worth at least that much to them even if it liquidates. Maybe Frontier's offer doesn't match up to that plus any upside potential. Who knows. They may see NK as a lost cause already, but there's no reason to sell below their minimum value either.

Originally Posted by RiddleEagle18 (Post 3882733)

Any news from todays hearing?

Originally Posted by RiddleEagle18 (Post 3882733)

Any news from todays hearing?