Spirt filed for Chapter 11 again
09-11-2025 | 05:02 AM
#231
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Joined: Dec 2023
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From: 320 PIC
Apparently I am. When the question comes, "what do you think will happen?", like it always does in the cockpit, and I tell my opinion, most of the responses are the same: oh wow, I thought they have to take the pilots with the planes. It's just shedding awareness, not negativity. Big difference.
09-11-2025 | 05:08 AM
#232
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Joined: Sep 2017
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From: NK CA
Apparently I am. When the question comes, "what do you think will happen?", like it always does in the cockpit, and I tell my opinion, most of the responses are the same: oh wow, I thought they have to take the pilots with the planes. It's just shedding awareness, not negativity. Big difference.
09-11-2025 | 07:35 AM
#233
Prime Minister/Moderator
Joined: Jan 2006
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From: Engines Turn or People Swim
You don't know if the McCaskill bond clause will get triggered anymore than I do. You are in here preaching certain doom and gloom when you don't know anymore than the rest of us. Everyone here is very aware of the possible situations. "Someone can take the planes, they don’t have to take the pilots. There’s no good reason to either." - Get out of here with that crap and have some respect.
So approach it from that perspective... who has a motive to want to bring the crews over with seniority/longevity intact, and then do an SLI (and maybe JCBA).
That might happen if they're going to operate the planes as configured and painted... somebody who wants new paint and cabins has time to hire/upgrade their own crews.
Wildcard is SWA... who knows, they might want a bus operating cert. and turnkey package. But even that's a bit far-fetched.
09-11-2025 | 07:42 AM
#234
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From: 320 PIC
There isn’t any reason to get mad at me for pointing out a possible scenario that most don’t realize. You can stay in fantasy land if you want. Don’t think so small.
09-11-2025 | 07:51 AM
#235
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09-11-2025 | 07:57 AM
#236
Prime Minister/Moderator
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From: Engines Turn or People Swim
Everyone seems to forget that Frontier already tried to buy the whole airline during our last CH11 in a 363 sale for cheap, but we said no. I think if it is tried again this time we aren’t in any position to deny a sale. According to the chairman, Spirit has had inquiries from multiple airlines. I doubt that anyone who wins the highest bid grabs all of our planes/routes/gates without any crews. My best guess is they are working to get out of the parked NEO leases and sell the rest to the highest bidder.
09-11-2025 | 08:53 AM
#238
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From: 320 PIC
Everyone seems to forget that Frontier already tried to buy the whole airline during our last CH11 in a 363 sale for cheap, but we said no. I think if it is tried again this time we aren’t in any position to deny a sale. According to the chairman, Spirit has had inquiries from multiple airlines. I doubt that anyone who wins the highest bid grabs all of our planes/routes/gates without any crews. My best guess is they are working to get out of the parked NEO leases and sell the rest to the highest bidder.
09-11-2025 | 09:03 AM
#239
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Ok well that’s all besides the point, the point is that the creditors denied a sale last time. This time I doubt they will deny the highest bid offer.
09-11-2025 | 09:04 AM
#240
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Joined: Dec 2022
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My guess is debtholders take a deal where debt is converted to equity in the acquiring company at pennies on the dollar but more than they get at the Spirit garage sale.
Aquiring company gets a turn key airbus operation with training capacity for a little stock dilution while not being encumbered by crushing debt.
Aquiring company gets a turn key airbus operation with training capacity for a little stock dilution while not being encumbered by crushing debt.
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