Spirit Now Sure As It Emerges From Bankruptcy

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08-12-2025 | 11:46 AM

#1031

ImSoSuss

Gets Weekends Off

Joined: Mar 2021

Posts: 2,847

Likes: 212

Quote:

Originally Posted by BusDriver2000

Never been through a potential Chapter 7 like this, but how does that go as far as flights? Say they announce it on January 1 do all flights after that just get canceled?

There very well could be a sudden announcement that today is the last day and all future flights are canceled. It has happened before. Any remaining cash will be paid to the employees first.

08-12-2025 | 11:58 AM

#1032

Brownose74

Cruising for a bruising

Joined: Oct 2022

Posts: 144

Likes: 28

Captain Osiris tin foil hat must be on fire

08-12-2025 | 12:04 PM

#1033

CincoDeMayo

That/It/Thang

Joined: Aug 2020

Posts: 3,463

Likes: 275

Quote:

Originally Posted by BusDriver2000

Never been through a potential Chapter 7 like this, but how does that go as far as flights? Say they announce it on January 1 do all flights after that just get canceled?

Sadly it’s less dignified. Usually it’s a press release sent out at night, crews scattered in hotels, passengers stuck on a trip; airline stops all operations. In the past, airline unions have mobilized to make sure pilots get home since CASS is shut off.

08-12-2025 | 12:07 PM

#1034

8JRMfortheyear

Line Holder

Joined: Sep 2014

Posts: 682

Likes: 29

Quote:

Originally Posted by BusDriver2000

Never been through a potential Chapter 7 like this, but how does that go as far as flights? Say they announce it on January 1 do all flights after that just get canceled?

A wined down will start. Start reducing flights until the last flight goes down and the crew to turn off the lights.

08-12-2025 | 12:08 PM

#1035

8JRMfortheyear

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Joined: Sep 2014

Posts: 682

Likes: 29

Quote:

Originally Posted by Brownose74

Captain Osiris tin foil hat must be on fire

Not the time to be laughing but this made me laugh a bit.

08-12-2025 | 12:12 PM

#1036

ImSoSuss

Gets Weekends Off

Joined: Mar 2021

Posts: 2,847

Likes: 212

Quote:

Originally Posted by 8JRMfortheyear

A wined down will start. Start reducing flights until the last flight goes down and the crew to turn off the lights.

That is best case scenario in a closing situation due to insolvency and it rarely happens that cleanly.

08-12-2025 | 12:24 PM

#1037

threeighteen

Gets Weekends Off

Joined: Dec 2010

Posts: 3,201

Likes: 32

From: 4A2FU

If they pull the plug, there won’t be much if any notice. It will be quick and dirty. Passengers and crews will be stranded. Planes will be left where they are until they find contractors to repo to storage.

Quote:

Originally Posted by Total BS

He might need to be in disguise

Disguise for what exactly?

08-12-2025 | 12:26 PM

#1038

CincoDeMayo

That/It/Thang

Joined: Aug 2020

Posts: 3,463

Likes: 275

Quote:

Originally Posted by 8JRMfortheyear

A wined down will start. Start reducing flights until the last flight goes down and the crew to turn off the lights.

Yeah, that ain’t happening. The bond holders, if they decide enough is enough, will not continue to lose money to wind it down with dignity. I almost wonder if this post was meant to be satirical. Why do you think these money men would continue to lose money down to the “last flight to turn off the lights”.

Like Patsy told Gloria; “it won’t be cinematic”

08-12-2025 | 12:48 PM

#1039

BluesGuitar

On Reserve

Joined: Jan 2025

Posts: 60

Likes: 20

Quote:

Originally Posted by CincoDeMayo

I was at Independence Air. That's how I remember it. Stranded at outstation and other carriers allowed us to JS for a week. Then they terminated us with a FedEx letter that came on Christmas Eve. Still have it..

08-12-2025 | 12:58 PM

#1040

FriendlyPilot

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Joined: Sep 2020

Posts: 1,564

Likes: 345

Quote:

Originally Posted by ImSoSuss

There very well could be a sudden announcement that today is the last day and all future flights are canceled. It has happened before. Any remaining cash will be paid to the employees first.

No this is not true. They become a creditor just like anyone one. The secured notes are paid first, then employees up to a maximum amount of money per employee. Until the "senior secured notes" are fully repaid (about $2B) no employee wages would be paid.

CH7 would be bad for employees.