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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 rickair7777
(Post 3880128)
Probably. Either that or more time to decide between free peanuts or pretzels with the re-branded service.
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Originally Posted by checkgear
(Post 3880156)
I hope we get pretzels
Are they still charging pilots for snacks? |
Originally Posted by rickair7777
(Post 3880128)
Probably. Either that or more time to decide between free peanuts or pretzels with the re-branded service.
no way it doesn’t happen when the date pushed again and Barry out at NK HQ earlier in the week. |
Originally Posted by CincoDeMayo
(Post 3880181)
I believe as a frontier crew member, you have to pay 50% of those pretzels if you want to snack during flight
Are they still charging pilots for snacks? |
Originally Posted by redhot
(Post 3880182)
Barry our CEO was spotted in MIA this Monday. The deal is getting done and will either get announced tomorrow morning or sometime next week…
no way it doesn’t happen when the date pushed again and Barry out at NK HQ earlier in the week. |
Originally Posted by LinaPeru
(Post 3880217)
where'd you get this timeline from? I mean it’s very specific and very soon.
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Originally Posted by CGLimits
(Post 3880220)
Yeah I think he could just be enjoying some mariquitas, picadillo and of course loads of flan down in Miami.
Also, you forgot the Tres Leches. That chunker certainly eyes the fat boy food. |
Originally Posted by CincoDeMayo
(Post 3880181)
I believe as a frontier crew member, you have to pay 50% of those pretzels if you want to snack during flight
Are they still charging pilots for snacks? free snacks for flight crew in the JCBA - non negotiable. in unity |
Originally Posted by LinaPeru
(Post 3880224)
Im not doubting he was there. I’m just wondering this timeline.
Also, you forgot the Tres Leches. That chunker certainly eyes the fat boy food. I believe his estimate is accurate. Given the extension to the 20th for debt negotiations with spirit debt holders. While also having tomorrow be q4 earnings report for Frontier. Because of the nature of the acquisition being one while still in chapter 11 being monetarily advantageous to frontier this leaves a short time frame to ink a deal. plausible time frame. But spirit can continue to get extensions for sometime. |
Originally Posted by LinaPeru
(Post 3880224)
Im not doubting he was there. I’m just wondering this timeline.
Also, you forgot the Tres Leches. That chunker certainly eyes the fat boy food. |
Originally Posted by VisionWings
(Post 3880237)
I believe his estimate is accurate. Given the extension to the 20th for debt negotiations with spirit debt holders. While also having tomorrow be q4 earnings report for Frontier. Because of the nature of the acquisition being one while still in chapter 11 being monetarily advantageous to frontier this leaves a short time frame to ink a deal.
plausible time frame. But spirit can continue to get extensions for sometime. yes exactly this. As Franke and Barry said in the 8K “time is of the essence”… Ted also said (which makes sense) how expensive staying in bankruptcy is. Tune in tomorrow, I think we will hear something before markets open Also I could be totally wrong and will be the first to admit it. I just think all points lead to tomorrow or sometime next week. time will tell. |
Originally Posted by redhot
(Post 3880264)
yes exactly this. As Franke and Barry said in the 8K “time is of the essence”… Ted also said (which makes sense) how expensive staying in bankruptcy is.
Tune in tomorrow, I think we will hear something before markets open Also I could be totally wrong and will be the first to admit it. I just think all points lead to tomorrow or sometime next week. time will tell. My guess is that they will start off the call with “We are not going to talk about a Spirit merger during this call” again like they did last time. If something were going to be announced it would be closer to the 20th. |
Originally Posted by Stayontarget
(Post 3880287)
Indeed time will tell.
My guess is that they will start off the call with “We are not going to talk about a Spirit merger during this call” again like they did last time. If something were going to be announced it would be closer to the 20th. One question I have is now that all the info in the 8K is public does that change their tone at all on answering questions about the topic now that it’s been confirmed in both companies SEC fillings? Probably not, and they will say what you have said. All of the investor questions will be for nothing due to a merged airline being completely different then stand alone airline. |
Originally Posted by redhot
(Post 3880304)
One question I have is now that all the info in the 8K is public does that change their tone at all on answering questions about the topic now that it’s been confirmed in both companies SEC fillings? Probably not, and they will say what you have said.
All of the investor questions will be for nothing due to a merged airline being completely different then stand alone airline. |
I've never paid anything on our flights, though I did hear 1 account that said they did. With out Q4 earnings out, we might hear something monday or this week. Who knows.
In Unity. |
Originally Posted by RVSMUnable
(Post 3880990)
I've never paid anything on our flights, though I did hear 1 account that said they did. With out Q4 earnings out, we might hear something monday or this week. Who knows.
In Unity. |
Southwest is scheduled to release an announcement today. Check out Spirit stock. It’s going to the moon!!!!🌖
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Originally Posted by Halon1211
(Post 3881506)
Southwest is scheduled to release an announcement today. Check out Spirit stock. It’s going to the moon!!!!🌖
I don’t see any Southwest news or filings. But spirit is flying. lol. |
Originally Posted by VisionWings
(Post 3881514)
I don’t see any Southwest news or filings. But spirit is flying. lol.
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Originally Posted by Halon1211
(Post 3881506)
Southwest is scheduled to release an announcement today. Check out Spirit stock. It’s going to the moon!!!!🌖
F9 & NK stocks ironically are up 15-20% today confidence ? SAL,DL,UA & AA are down 5% your merger is not confirmed |
Originally Posted by Halon1211
(Post 3881506)
Southwest is scheduled to release an announcement today. Check out Spirit stock. It’s going to the moon!!!!🌖
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Originally Posted by Alexjones
(Post 3881534)
F9 & NK stocks ironically are up 15-20% today confidence ?
SAL,DL,UA & AA are down 5% your merger is not confirmed |
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Originally Posted by TheRubberDucky
(Post 3882092)
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Originally Posted by Stayontarget
(Post 3882095)
So they are both interested but can’t agree on price? Sounds like Craigslist alright.
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Originally Posted by AutoBrksMedium
(Post 3882144)
Why is Spirit even entertaining offers when they are positioned to exit bankruptcy and be successful on their own?
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Originally Posted by AutoBrksMedium
(Post 3882144)
Why is Spirit even entertaining offers when they are positioned to exit bankruptcy and be successful on their own?
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 hockeypilot44
(Post 3882145)
Maybe they aren’t positioned as well as you think and are bluffing?
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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. Do not listen to pilots for advice about anything other than how to fly a plane. |
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. |
Pretty sure its just another negotiating tactic spirit is using... Get F9 worried they don't have a chance, to get just a wee bit more.
We will see. I am still hopeful. JK- Our CEO sent an email saying they are no longer pursuing. |
Makes one wonder what the Spirit bond holders (realistically, the ones calling the shots) see of such value that we do not.🤨🤔
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Originally Posted by Tranquility
(Post 3882199)
Makes one wonder what the Spirit bond holders (realistically, the ones calling the shots) see of such value that we do not.🤨🤔
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Bondholders know the ballpark value of a liquidiated Spirit. I assume the risk of another failed merge requires them to demand significantly more cash up front, and probably way more payment if any merger does fail. Bondholders are in the driver's seat. Not Franke, not Christie. Bondholders will get their money either way. They aren't a charity and they dont care whether a bunch of pilots and FAs have a job or not. They want their ROI.
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Originally Posted by Alexjones
(Post 3882208)
They don’t need to take a hit. Let spirit try an return to profitability if not liquidate and get a better return than F9s offer today
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Originally Posted by DrSteveBrule
(Post 3882209)
Bondholders know the ballpark value of a liquidiated Spirit. I assume the risk of another failed merge requires them to demand significantly more cash up front, and probably way more payment if any merger does fail. Bondholders are in the driver's seat. Not Franke, not Christie. Bondholders will get their money either way. They aren't a charity and they dont care whether a bunch of pilots and FAs have a job or not. They want their ROI.
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 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 SSlow
(Post 3882219)
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.
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Originally Posted by Stayontarget
(Post 3882215)
That doesn’t math. Frontiers offer is around 2B. According to project Bravo Spirits assets total around 500M.
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