Spirit Now Sure As It Emerges From Bankruptcy
#391
On Reserve
Joined: Jul 2018
Posts: 151
Likes: 21
more, and less getting jacked around with.
our time is wasted here quite often unless you like sitting in hotels for 2359
#392
Line Holder
Joined: Feb 2019
Posts: 1,226
Likes: 29
From: baller, shot caller
This is happening because of the massive decrease in block hours with the same amount of gates at our disposal in FLL. Don’t kid yourself, if we were running full tilt you’d be waiting plenty and we’d be losing even more money. This place has no path forward to profitability without a merger. The bankruptcy did nothing to improve our financial position other than buying time and getting the shareholders out of the way.
It’s merger or death and the clock is ticking. Two clocks actually. One is the cash burn which can get some time added if they sell some airplanes and the other is the debt they kicked down the road a few years which is why we declared bankruptcy in the first place. We aren’t magically going to have $2 billion in a couple years and won’t be credit worthy to get it refinanced outside of bankruptcy.
The legacies have too much power now. You cannot be successful without scale. This is a pump and dump scheme right now. Lipstick on a pig.
It’s merger or death and the clock is ticking. Two clocks actually. One is the cash burn which can get some time added if they sell some airplanes and the other is the debt they kicked down the road a few years which is why we declared bankruptcy in the first place. We aren’t magically going to have $2 billion in a couple years and won’t be credit worthy to get it refinanced outside of bankruptcy.
The legacies have too much power now. You cannot be successful without scale. This is a pump and dump scheme right now. Lipstick on a pig.
It can't be, the government made their position clear on that last year.
#393
Gets Weekends Off
Joined: Jul 2008
Posts: 5,575
Likes: 314
i think 2500 behind you at a legacy in a year is AT LEAST 24 months ahead of reality. DL & UA are only hiring 500 a year; AA is around 1400-1800 currently. I still think you are better off at a legacy though. I do hope for the best for NK. You’ve got a good pilot group over there.
#394
Line Holder
Joined: Apr 2019
Posts: 276
Likes: 1
If management made the airline smaller by selling off older A320 CEO aircraft as the newer NEO aircraft come back from engine inspections and then Spirit becomes an airline of about 150 aircraft could that be a starting point to being a more stable airline or a viable alternative to either a merger or the doors closing?
#395
On Reserve
Joined: Mar 2018
Posts: 84
Likes: 22
If management made the airline smaller by selling off older A320 CEO aircraft as the newer NEO aircraft come back from engine inspections and then Spirit becomes an airline of about 150 aircraft could that be a starting point to being a more stable airline or a viable alternative to either a merger or the doors closing?
Accept reality and get hired yesterday to a Big 3 legacy. Southwest isn't even safe - look at what is happening over there. If Southwest was valued by the government, they wouldn't have allowed it to get raided by private equity. That JetBlue is going to get the Icahn treatment, and Spirit is now owned by bondholders looking to liquidate, is all gravy to the government.
Guys at Spirit talking about negotiating positions for a new contract are nuts. There will not be a contract because there will not be a company. Extract as much value as you can before the company shuts down in a year or two.
#396
This is happening because of the massive decrease in block hours with the same amount of gates at our disposal in FLL. Don’t kid yourself, if we were running full tilt you’d be waiting plenty and we’d be losing even more money. This place has no path forward to profitability without a merger. The bankruptcy did nothing to improve our financial position other than buying time and getting the shareholders out of the way.
It’s merger or death and the clock is ticking. Two clocks actually. One is the cash burn which can get some time added if they sell some airplanes and the other is the debt they kicked down the road a few years which is why we declared bankruptcy in the first place. We aren’t magically going to have $2 billion in a couple years and won’t be credit worthy to get it refinanced outside of bankruptcy.
The legacies have too much power now. You cannot be successful without scale. This is a pump and dump scheme right now. Lipstick on a pig.
It’s merger or death and the clock is ticking. Two clocks actually. One is the cash burn which can get some time added if they sell some airplanes and the other is the debt they kicked down the road a few years which is why we declared bankruptcy in the first place. We aren’t magically going to have $2 billion in a couple years and won’t be credit worthy to get it refinanced outside of bankruptcy.
The legacies have too much power now. You cannot be successful without scale. This is a pump and dump scheme right now. Lipstick on a pig.
confident claims right there. I’ve been around these places long enough to know that according to APC, the B6 merger was a done deal and the judge was most certainly in coo hoots with corrupt senators yadie yada.
Your statements stink of someone that wants another job somewhere else and has no more interview opportunities. Just hoping the ship burns down so you can tell everyone your lack of career progression is plainly due to your employers failure. That or you’ve already got a job somewhere else but are scared ****less of your choice to leave. Which is it?
#397
Almost there
Joined: Apr 2021
Posts: 1,969
Likes: 109
The judges ruling, to me, read as if he wanted Frontier to immediately begin the merge process again. Might as well have said, “Frontier, this one’s for you.”
#398
That/It/Thang
Joined: Aug 2020
Posts: 3,463
Likes: 275
The insane part is Frontier has tried 3 times (of record) to buy Spirit; once pre JBLU and 2x after. If NK management would just stop with the games, it would have been done already. The siren song of JBLU cost them so much, NK and F9 would be finishing up SLI and JCBA, and the NK shareholders would have gotten paid without the BK and having their equity stripped from them.
#399
Almost there
Joined: Apr 2021
Posts: 1,969
Likes: 109
The insane part is Frontier has tried 3 times (of record) to buy Spirit; once pre JBLU and 2x after. If NK management would just stop with the games, it would have been done already. The siren song of JBLU cost them so much, NK and F9 would be finishing up SLI and JCBA, and the NK shareholders would have gotten paid without the BK and having their equity stripped from them.
#400
On Reserve
Joined: Aug 2024
Posts: 8
Likes: 0
It's not a viable path to anywhere. The company liquidates what few assets it has for cash that it then burns through. The debt increases while the amount of assets with which to generate non-existent profit declines. The government has made its position clear. It desires a concentrated industry of a few titans - the existence of airlines like Spirit, Frontier, JetBlue etc are undesirable because they keep profits low. Consumer welfare isn't the concern, although it is used as the fig leaf. The critical issue is the government wants companies big enough to not need constant bail-outs/bail-ins.
Accept reality and get hired yesterday to a Big 3 legacy. Southwest isn't even safe - look at what is happening over there. If Southwest was valued by the government, they wouldn't have allowed it to get raided by private equity. That JetBlue is going to get the Icahn treatment, and Spirit is now owned by bondholders looking to liquidate, is all gravy to the government.
Guys at Spirit talking about negotiating positions for a new contract are nuts. There will not be a contract because there will not be a company. Extract as much value as you can before the company shuts down in a year or two.
Accept reality and get hired yesterday to a Big 3 legacy. Southwest isn't even safe - look at what is happening over there. If Southwest was valued by the government, they wouldn't have allowed it to get raided by private equity. That JetBlue is going to get the Icahn treatment, and Spirit is now owned by bondholders looking to liquidate, is all gravy to the government.
Guys at Spirit talking about negotiating positions for a new contract are nuts. There will not be a contract because there will not be a company. Extract as much value as you can before the company shuts down in a year or two.
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