Originally Posted by bluespoon (Post 3882253)

Or they are confident Spirit will get back to profitability.

Originally Posted by Judge Smails (Post 3882248)

You make it sound like legacies will be banging down your door. This place liquidates, take a number, it'll probably look like the waiting room in Beetlejuice.

Originally Posted by bluespoon (Post 3882253)

Or they are confident Spirit will get back to profitability.

Originally Posted by DrSteveBrule (Post 3882209)

Bondholders will get their money either way...They want their ROI.

Originally Posted by Stayontarget (Post 3882215)

That doesn’t math. Frontiers offer is around 2B. According to project Bravo Spirits assets total around 500M.

Originally Posted by Stayontarget (Post 3882215)

That doesn’t math. Frontiers offer is around 2B. According to project Bravo Spirits assets total around 500M.

Originally Posted by Lukas (Post 3882285)

Is it as simple as the bondholders believe the smaller NK and revised business plan will get them the desired ROI? Was the NK counteroffer in good faith, or simply a way to drive a stake into the distraction of that merger attempt? Is there another deal under NDA, potentially?

Originally Posted by DrSteveBrule (Post 3882301)

Their ROI was supposed to be from 8% 5 year secured bonds, not equity stake. People are lucky these bondholders decided to play ball at all, rather than burn it all down in bankruptcy, which still could happen, btw.

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?

Originally Posted by RiddleEagle18 (Post 3882733)

Any news from todays hearing?

Originally Posted by dracir1 (Post 3882379)

Our CEO sent out an email that said we're out on NK. Not sure if that's true or not.

Originally Posted by gppilot (Post 3882978)

They also publicly said this in November.

Originally Posted by CatPilot1 (Post 3882984)

It’s a done deal, as in they will close. Come on guys.

Originally Posted by Alexjones (Post 3883008)

bond holder logic is Wipe out the share holders proceed through with CH11

Renegotiate all of a sudden the same offer with frontier and they ride of into the sunset away with a larger ROI

This is how business is done screw the individual share holders so the Financial Institutions make money

Originally Posted by dracir1 (Post 3882379)

Our CEO sent out an email that said we're out on NK. Not sure if that's true or not.

Originally Posted by CatPilot1 (Post 3883176)

Originally Posted by CatPilot1 (Post 3883176)

Originally Posted by HSCompressor (Post 3883225)

Okay. But seriously tho. Besides all this "blackness". What do they know about running an airline?

Originally Posted by AutoBrksMedium (Post 3883250)

Is knowing how to run an airline a requirement to front the money and buy it? Would love to hear this answer.

Originally Posted by AutoBrksMedium (Post 3883250)

Is knowing how to run an airline a requirement to front the money and buy it? Would love to hear this answer.

Originally Posted by AutoBrksMedium (Post 3883215)

Given the current definition of DEI, I can’t imagine this acquisition going smoothly.

Originally Posted by HSCompressor (Post 3883255)

What kind of stupid question is that?

I'm sure the people whose livelihoods depend on the company being viable would appreciate it. Or maybe the equity holders might have a say?

Would you want the Black Panthers taking over Indigo and running F9 for "Black Entrepreneurship"? It's okay though. Because they have the money to do it, that's all that matters.

EDIT: Also, a lick of common sense would also tell you, if you're going to sink $Millions into a company, you might wanna know how to recoup your investment.

Originally Posted by AutoBrksMedium (Post 3883291)

I was unaware Hashim Walters and The Latimer Group were part of the Black Panthers. Maybe you misspoke.

When in the history of history has it been a requirement to “know what you’re doing” when buying a company? I can name several powerful, rich people in recent history that don’t know the first thing about what it is they are in charge of and yet they are in charge.

You don’t know the first thing about Hashim Walters.

Originally Posted by CatPilot1 (Post 3883297)

Dang, Hashim Walters has more pull than I originally thought; he’s his very own APC CEO simp.

Originally Posted by AutoBrksMedium (Post 3883250)

Is knowing how to run an airline a requirement to front the money and buy it? Would love to hear this answer.

Originally Posted by fw90 (Post 3883307)

I mean our current management is doing it great…. It’s inspiring to me to know that literally ANYONE could run an airline better than they are. ANYONE.