Spirit Now Sure As It Emerges From Bankruptcy
08-26-2025 | 01:32 PM
#1381
On Reserve
Joined: Dec 2020
Posts: 74
Likes: 5
Frontier going for the throat.
adding
FLL-BWI,IAH,DTW,CLT,DFW
DTW-CLT,CUN,MIA,IAH,MSY,FLL
BWI-CUN,IAH,FLL,MSY
IAH-FLL,GUA,MSY,PHL,SAL,SAP
granted this is just a lot of overlay on legacy hubs but it’s also heavy spirit overlay.
They already overlap on 35% of routes and this won’t help that number for a merger.
adding
FLL-BWI,IAH,DTW,CLT,DFW
DTW-CLT,CUN,MIA,IAH,MSY,FLL
BWI-CUN,IAH,FLL,MSY
IAH-FLL,GUA,MSY,PHL,SAL,SAP
granted this is just a lot of overlay on legacy hubs but it’s also heavy spirit overlay.
They already overlap on 35% of routes and this won’t help that number for a merger.
08-26-2025 | 01:32 PM
#1382
Gets Weekends Off
Joined: Aug 2020
Posts: 2,648
Likes: 102
Depending on the size of the sale, is a 363 asset sale big enough to trigger merger or fragmentation language? Under that section of the bankruptcy law, could one entity just cherry pick the desirable pieces and leave the rest, including employees? If Frontier were to take over the leases on only the NEO’s that they want, some slots, and some gates under a 363 asset sale, what happens to all of the excess employees? I’ve done CH 11 a couple of times and one CH7, but 363 is new to me.
08-26-2025 | 01:33 PM
#1383
Gets Weekends Off
Joined: Nov 2009
Posts: 5,508
Likes: 109
Originally Posted by StopBeingWhimps;[url=tel:3942406
3942406[/url]]Its NOT going to be a "merger". Its going to be a bankruptcy acquisition. 363 asset sale under the chapt 11 bankruptcy code. Franke clearly is in FLL to close the deal... under this acquisition Franke can pick which assets he wants to keep or sell. He wants routes/slots, gates, planes. This is very similar to the offer early this year (363 sale) I expect NK to announce a bankruptcy under chapt 11 with an acquisition by F9. Overlapping doesnt mean SQUAT in this type of bankruptcy acquisition. An agreement has clearly been reached with Bill and the Bond Holders... NK operations goes away, will cease operations, but employees such as Pilots, FA's, Mechanics will merge.
So, a review for the ignorant(which seems to be 99% of you) acquisition of some of the assets, merge of the employees. a JCBA will be worked on once deal closes...Unions still have legal grounds under the bankruptcy code.. A judge still would be required to gut the Spirit CBA... my guess is a judge wont touch it knowing a JCBA is around the corner and would prefer to let the company and unions settle it and do their negotiations.
Im guessing Franke wants the NEO's, agreed to sell all the CEO's and other assets and some stock and cash to please the Bond holders(we'll see when merger agreement goes public). Spirit has about 120 NEO's... he will take ownership of those basically overnight. Big growth for the new F9... Thats what's happening here and it sounds like a deal is pretty much done. Franke is 88yrs old, he aint flying across the country to talk about gate space LOL
Bill Franke got his deal after more than a decade... did yall think Bill would just go away and give up?!! LOL.
So, a review for the ignorant(which seems to be 99% of you) acquisition of some of the assets, merge of the employees. a JCBA will be worked on once deal closes...Unions still have legal grounds under the bankruptcy code.. A judge still would be required to gut the Spirit CBA... my guess is a judge wont touch it knowing a JCBA is around the corner and would prefer to let the company and unions settle it and do their negotiations.
Im guessing Franke wants the NEO's, agreed to sell all the CEO's and other assets and some stock and cash to please the Bond holders(we'll see when merger agreement goes public). Spirit has about 120 NEO's... he will take ownership of those basically overnight. Big growth for the new F9... Thats what's happening here and it sounds like a deal is pretty much done. Franke is 88yrs old, he aint flying across the country to talk about gate space LOL
Bill Franke got his deal after more than a decade... did yall think Bill would just go away and give up?!! LOL.
08-26-2025 | 01:37 PM
#1384
Gets Weekends Off
Joined: Jan 2018
Posts: 2,822
Likes: 222
The big 4 may not be interested in the assets. None of them picked up the 319s for sale.
08-26-2025 | 01:40 PM
#1385
Gets Weekends Off
Joined: Aug 2020
Posts: 2,648
Likes: 102
08-26-2025 | 02:06 PM
#1386
Almost there
Joined: Apr 2021
Posts: 1,969
Likes: 109
The 3X per week are probably all on Thursday Friday and Monday. The 1X a week are probably on Saturday. We have only 30% of our weekend schedule on Tuesday and Wednesday right now. So no, probably not a huge deal but also probably 15-20 daily flights on those specific days so a little bit bigger deal than you make it seem. I would assume this is also just the beginning considering their major push to steal customers.
08-26-2025 | 02:24 PM
#1388
Line Holder
Joined: Sep 2014
Posts: 682
Likes: 29
08-26-2025 | 02:26 PM
#1389
Line Holder
Joined: Jun 2021
Posts: 1,363
Likes: 102
From: Joystick Operator
And yes, BF himself isn't going to take the private jet across the country for almost 2 days just to talk gate space. It is something much bigger than that.
08-26-2025 | 02:38 PM
#1390
That/It/Thang
Joined: Aug 2020
Posts: 3,463
Likes: 275
Not only is that not the case, but there currently is too much domestic capacity in the market. Nobody wants the planes with the exception of F9 who is finding them in a position of grow or die. LGA slots have value. Besides that, nobody wants to take on non fuel efficiency CEOs, problem NEOs and the cost to reconfigure them.
Thread
Thread Starter
Forum
Replies
Last Post
