Spirt filed for Chapter 11 again
12-09-2025 | 11:13 AM
#511
Banned
Joined: Feb 2025
Posts: 136
Likes: 19
Lets hope so albeit if you look back at the dockets on the ww.dm.eqiq11 they have been spending hundreds of thousands a month across multiple law firms for liquidation analysis
here’s one for example, if you look back at previous dockets you’ll see hundreds of thousands have been spent on liquidation talks.
https://document.epiq11.com/document...=SPJ&source=DM
here’s one for example, if you look back at previous dockets you’ll see hundreds of thousands have been spent on liquidation talks.
https://document.epiq11.com/document...=SPJ&source=DM
12-09-2025 | 11:19 AM
#512
Banned
Joined: Feb 2025
Posts: 136
Likes: 19
Ha! Let's get 20 "wall at bets" style captains to buy 5% each! We could control 100% of what happens from here!!!
Right? I get that our entire bottom line earnings for October was +$20mil, due entirely from accounting tricks.. but when I think about Frontier, AA, and JB losing money horribly in Q3.. I mean, a bottom line profit is a profit nonetheless.. we're still on track for almost a Billion $ in quarterly revenue.. so.. I still don't get that we don't have a revenue problem, it's the expenses that just aren't in line with our revenues that seems to be our problem.
Just curious what planes they can get their hands on, if ordered new, right now, delivered by 2030? Or you mean order planes by 2030 and just take a 2045+ delivery? Alaska is adding Rome flights and getting their hands on LHR slots now, I hear, they (WN) can afford to sit still and watch Alaska leapfrog them?
Right? I get that our entire bottom line earnings for October was +$20mil, due entirely from accounting tricks.. but when I think about Frontier, AA, and JB losing money horribly in Q3.. I mean, a bottom line profit is a profit nonetheless.. we're still on track for almost a Billion $ in quarterly revenue.. so.. I still don't get that we don't have a revenue problem, it's the expenses that just aren't in line with our revenues that seems to be our problem.
Just curious what planes they can get their hands on, if ordered new, right now, delivered by 2030? Or you mean order planes by 2030 and just take a 2045+ delivery? Alaska is adding Rome flights and getting their hands on LHR slots now, I hear, they (WN) can afford to sit still and watch Alaska leapfrog them?
12-09-2025 | 11:19 AM
#513
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Joined: Sep 2020
Posts: 1,556
Likes: 335
No, they made 20 million when you factor in the AERCAP settlements etc. The bottom line is they may not have drawn from the DIP and they were positive + 20 million in October. This is much different from what you have been telling everyone. They are not liquidating, they are restructuring. November will be interesting.
All adjustments to the balance sheet have to show as a gain or loss for income reporting because of tax liability. Spirit lost $96M in operating as an airline in October, but there was a $124 DIFFERENCE between the Asset value and Liability value, it came over as a "gain" for earnings. But it was non cash and only affected possible future tax payments on earnings, which it would have because it has billions in NOL carryforwards.
12-09-2025 | 11:28 AM
#514
On Reserve
Joined: Jul 2025
Posts: 69
Likes: 21
Lets hope so albeit if you look back at the dockets on the ww.dm.eqiq11 they have been spending hundreds of thousands a month across multiple law firms for liquidation analysis
here’s one for example, if you look back at previous dockets you’ll see hundreds of thousands have been spent on liquidation talks.
https://document.epiq11.com/document...=SPJ&source=DM
here’s one for example, if you look back at previous dockets you’ll see hundreds of thousands have been spent on liquidation talks.
https://document.epiq11.com/document...=SPJ&source=DM
Whether they can avoid that fate or not is an open question, but it does not seem to be management's plan or intended course of action at this time.
12-09-2025 | 11:48 AM
#515
Getting Out
Joined: Jan 2010
Posts: 85
Likes: 36
From: A320
"because it has billions in NOL carryforwards"
Missing stuff like this and a thousand other angles is why none of the takes on here are worth much.
The difference between an investment banker/airline/PE view of Spirit and its value vs the way pilots look at it is a mile wide.
This entire thread is a bunch of blind fools feeling around in the dark.
Missing stuff like this and a thousand other angles is why none of the takes on here are worth much.
The difference between an investment banker/airline/PE view of Spirit and its value vs the way pilots look at it is a mile wide.
This entire thread is a bunch of blind fools feeling around in the dark.
12-09-2025 | 11:57 AM
#516
Line Holder
Joined: Sep 2020
Posts: 1,556
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12-09-2025 | 12:31 PM
#517
Banned
Joined: Feb 2025
Posts: 136
Likes: 19
Yes but in that very same document "liquidation analysis" was a grand total of 35 hours out of the 2687 hours billed. That hardly would seem to be a focus or plan, just a due dilligence matter.
Whether they can avoid that fate or not is an open question, but it does not seem to be management's plan or intended course of action at this time.
Whether they can avoid that fate or not is an open question, but it does not seem to be management's plan or intended course of action at this time.
Last edited by FlyFlorida2025; 12-09-2025 at 12:53 PM.
12-09-2025 | 12:32 PM
#518
Getting Out
Joined: Jan 2010
Posts: 85
Likes: 36
From: A320
I am saying the NOL carry-forwards are just one example of the many intricacies of this situation. Meanwhile we have pilots thinking they know what is likely to happen based on cherry picking random filings, brand pecking order, seniority list integrations, etc.
The situation doesn't look good and hasn't for 5 years but we are at the precipice of this resolving, one way or another. That's about all we know.
12-09-2025 | 12:42 PM
#519
Banned
Joined: Feb 2025
Posts: 136
Likes: 19
No Spirit didn't "make" $20M. The terminated leases are on the balance sheet and because the accounted for liability of the leases was more than the accounting value of leases terminated, this is an income GAIN under GAAP.
All adjustments to the balance sheet have to show as a gain or loss for income reporting because of tax liability. Spirit lost $96M in operating as an airline in October, but there was a $124 DIFFERENCE between the Asset value and Liability value, it came over as a "gain" for earnings. But it was non cash and only affected possible future tax payments on earnings, which it would have because it has billions in NOL carryforwards.
All adjustments to the balance sheet have to show as a gain or loss for income reporting because of tax liability. Spirit lost $96M in operating as an airline in October, but there was a $124 DIFFERENCE between the Asset value and Liability value, it came over as a "gain" for earnings. But it was non cash and only affected possible future tax payments on earnings, which it would have because it has billions in NOL carryforwards.
Webster's dictionary defines net income as the balance of gross income left after subtracting all allowable deductions, exemptions, and necessary business expenses (like taxes, operating costs, interest) from total earnings, essentially the "take-home" or profit. It's the money you keep or the true profit a company makes after all costs are covered, often called the "bottom line"
12-09-2025 | 12:43 PM
#520
Gets Weekends Off
Joined: Jan 2018
Posts: 2,817
Likes: 220
"because it has billions in NOL carryforwards"
Missing stuff like this and a thousand other angles is why none of the takes on here are worth much.
The difference between an investment banker/airline/PE view of Spirit and its value vs the way pilots look at it is a mile wide.
This entire thread is a bunch of blind fools feeling around in the dark.
Missing stuff like this and a thousand other angles is why none of the takes on here are worth much.
The difference between an investment banker/airline/PE view of Spirit and its value vs the way pilots look at it is a mile wide.
This entire thread is a bunch of blind fools feeling around in the dark.
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