Spirit Now Sure As It Emerges From Bankruptcy
08-07-2025 | 02:35 PM
#971
Line Holder
Joined: Jan 2023
Posts: 438
Likes: 80
Maybe the results are that bad they’re trying to hold them back for as long as possible, but your guess is as good as anyone’s here.
08-07-2025 | 02:49 PM
#972
Line Holder
Joined: Sep 2020
Posts: 1,564
Likes: 344
Its not like they have to worry about how the market is going to react because FLYY is literally a penny stock at this point with a market cap of $98M. If the hedge funds tried selling any of their stock it would go to 0, which is why the only thing they can do is start the process of selling off parts of the airline to get cash and then use the cash to pay off their "senior secured notes" and not use for running the airline, which they have no interest in doing.
08-07-2025 | 02:55 PM
#973
Line Holder
Joined: Feb 2024
Posts: 203
Likes: 18
The SEC requires financials to be released no more than 45 days after the end of the reporting period. Also literally nobody owns the stock, and the only real shareholders are the JETS index and the insider hedge funds that already know the detailed financials.
Its not like they have to worry about how the market is going to react because FLYY is literally a penny stock at this point with a market cap of $98M. If the hedge funds tried selling any of their stock it would go to 0, which is why the only thing they can do is start the process of selling off parts of the airline to get cash and then use the cash to pay off their "senior secured notes" and not use for running the airline, which they have no interest in doing.
Its not like they have to worry about how the market is going to react because FLYY is literally a penny stock at this point with a market cap of $98M. If the hedge funds tried selling any of their stock it would go to 0, which is why the only thing they can do is start the process of selling off parts of the airline to get cash and then use the cash to pay off their "senior secured notes" and not use for running the airline, which they have no interest in doing.
08-07-2025 | 03:07 PM
#974
Line Holder
Joined: Sep 2020
Posts: 1,564
Likes: 344
The only penalty if they don't publish the financials is that they will be de-listed, which at this point who cares. It doesn't affect the operation of the airline and basically makes it a private enterprise, which would still be liable for the secured notes.
08-11-2025 | 02:46 PM
#977
On Reserve
Joined: Feb 2019
Posts: 70
Likes: 11
ouch. Page 8 of the earnings “Because of the uncertainty of successfully completing the initiatives to comply with the minimum liquidity covenants and of the outcome of discussions with Company stakeholders, management has concluded there is substantial doubt as to the Company’s ability to continue as a going concern within 12 months from the date these financial statements are issued.”
I hope things turn around for NK. Wish everyone the best.
I hope things turn around for NK. Wish everyone the best.
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