Spirit Now Sure As It Emerges From Bankruptcy
07-17-2025 | 05:18 AM
#481
On Reserve
Joined: Jun 2025
Posts: 107
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If we go down to around 155 aircraft flying the line with an additional 40 down for engine issues at 14 pilots per aircraft that comes out to a pilot group of 2170 pilots with just over 2800 pilots on property. The legacies are starting to hire again so in theory attrition will start increasing again but the math is not looking good.
So if you were downgraded from CA and are saying you might get furloughed that is a pretty large chunk of the pilot community that will be affected by this and higher than the numbers I just came up with. When you say "There's plenty more" do you have more information/leaks on what is being discussed by the company?
So if you were downgraded from CA and are saying you might get furloughed that is a pretty large chunk of the pilot community that will be affected by this and higher than the numbers I just came up with. When you say "There's plenty more" do you have more information/leaks on what is being discussed by the company?
07-17-2025 | 06:19 AM
#482
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Joined: Feb 2019
Posts: 1,226
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From: baller, shot caller
It's the most bizarre thing I've seen in this career
07-17-2025 | 07:58 AM
#485
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Joined: Jan 2025
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not quite sure how much of an indication our stock performance is to pilots future but it down 6 percent today and almost 20 percent this month
07-17-2025 | 08:01 AM
#486
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Joined: Oct 2010
Posts: 1,499
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we can’t make money because we have a bunch of giant to make money off non-flying revenue who could dump as many seats into any market that they want and not have it affect their bottom line that badly
07-17-2025 | 08:04 AM
#487
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Joined: Oct 2010
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at this point we’d have to find a niche where we’re not competing with the legacy carriers and have much much lower cost. I’m not sure there’s much you can do about cost as we’re already one of the lowest in the industry…,,
07-17-2025 | 09:12 AM
#489
Gets Weekends Off
Joined: Mar 2006
Posts: 5,213
Likes: 14
From: guppy CA
07-17-2025 | 09:19 AM
#490
Gets Weekends Off
Joined: Mar 2006
Posts: 5,213
Likes: 14
From: guppy CA
I glanced at the S-1. Professional money managers are offloading stock, perhaps due to a lockup ending which now allows them to sell. Some are selling some of their FLYY stock, others are selling all of it. I assume this was bondholders who got converted to stock in the bankruptcy. They are almost certainly selling at a loss; perhaps for tax purposes, perhaps because they don't see FLYY staying out of bankruptcy. Either way, they're selling because FLYY stock is dead money to them and they can get a better return on capital elsewhere.
Spirit will see no money on this sale. In fact, it is costing Spirit because they have to pay some of the filing costs. From the S-1:
We will bear all costs, expenses and fees in connection with the registration of these securities, including with regard to compliance with state securities or “blue sky” laws. The Selling Stockholders will bear all commissions and discounts, if any, attributable to their sale of Common Stock. See “Plan of Distribution.”
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