Spirt filed for Chapter 11 again

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12-24-2025 | 04:39 AM

#681

bluespoon

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Joined: Mar 2023

Posts: 643

Likes: 73

So Spirit was going to liquidate like two weeks ago but they got a lifeline. F9 got rid of BB obviously related to Spirit. Why hasn’t Spirit announced anything yet what’s the problem, they still don’t want to take the deal?

12-24-2025 | 05:31 AM

#682

CGLimits

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Joined: Jan 2016

Posts: 490

Likes: 68

Quote:

Originally Posted by bluespoon

I don’t think BB getting fired is related to Spirit. I think the board finally got tired of having a severely underperforming CEO who kept sticking his foot in his mouth, had been acting erratically, and had lost every employee’s confidence. This company needs a leader, and BB had no leadership skills at all. As the face of the company he was a bit embarrassing, to say the least. I am just surprised it took this long for the board to finally show him the door.

12-24-2025 | 06:11 AM

#683

redhot

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Joined: Feb 2024

Posts: 203

Likes: 18

Quote:

Originally Posted by CGLimits

if you think leaks from Bloomberg of a mergers and BB leaving within 12 hours aren’t connected idk what to tell you… those two things are obviously connected.

Last edited by FangsF15; 12-24-2025 at 11:47 AM. Reason: Fix quote syntax

12-24-2025 | 06:54 AM

#684

LTJ9

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Joined: Dec 2025

Posts: 69

Likes: 57

From: A320 CA

Quote:

Originally Posted by redhot

if you think leaks from Bloomberg of a mergers and BB leaving within 12 hours aren’t connected idk what to tell you… those two things are obviously connected.

Just like Robin Hayes left for health reasons 2 days before the merger was blocked

12-24-2025 | 07:00 AM

#685

BusBoi

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Joined: Sep 2021

Posts: 439

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Quote:

Originally Posted by LTJ9

Just like Robin Hayes left for health reasons 2 days before the merger was blocked

And then a few weeks later magically got better and became CEO of Airbus Americas.

12-24-2025 | 07:04 AM

#686

Stayontarget

Almost there

Joined: Apr 2021

Posts: 1,968

Likes: 109

Quote:

Originally Posted by BusBoi

And then a few weeks later magically got better and became CEO of Airbus Americas.

I wish all Spirit employees could fall uphill like that.

12-24-2025 | 10:17 AM

#687

DirkDiggler9999

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Joined: Oct 2024

Posts: 170

Likes: 96

Quote:

Originally Posted by bluespoon

Spirit was given a lifeline by creditors possibly because F9 wanted to take a look. Not sure BB exited because of NK but probably because of underperforming financials. I think there had been no announcement because F9 may just not be interested any more. The longer F9 or anyone drags their feet, the worse it becomes for NK. The NK management team has shown they are not able to make money. This is very concerning for continued financial support from creditors. Personally, I don’t think they have been aggressive enough with cuts and restructuring. Time is not on the side of NK and that makes me worried. I truly do think if F9 was serious, an announcement would have been made a while ago.

12-24-2025 | 02:30 PM

#688

FriendlyPilot

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Joined: Sep 2020

Posts: 1,560

Likes: 338

Quote:

Originally Posted by bluespoon

Why hasn’t Spirit announced anything yet what’s the problem, they still don’t want to take the deal?

Take what deal? The "all stock" deal that was worth about $160M of stock in Frontier if the Creditors would forgive their $3B in debt? If you were a creditor how would you explain to your investor clients that you gave away $3B of secured debt to Frontier for almost nothing in stock that will be wiped out in their BK? Why not just liquidate and sell the assets? Spirit's parts are worth more than the whole right now, especially as they have take on another $300M in DIP debt in just 2 months and losing between $72M-$120M per month even after rejecting leases and still have a negative 20% profit margin despite being well into BK2.

I hope someone buys the whole thing for the sake of the remaining employees, but there is so much risk with little benefit for a potential acquirer that its not likely to happen.

12-24-2025 | 02:36 PM

#689

FriendlyPilot

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Joined: Sep 2020

Posts: 1,560

Likes: 338

Quote:

Originally Posted by DirkDiggler9999

Personally, I don’t think they have been aggressive enough with cuts and restructuring. Time is not on the side of NK and that makes me worried. I truly do think if F9 was serious, an announcement would have been made a while ago.

Pretty much.