Spirt filed for Chapter 11 again
09-01-2025 | 01:46 PM
#81
Line Holder
Joined: Feb 2019
Posts: 1,226
Likes: 29
From: baller, shot caller
I don’t have any business in your guys’ threads, but after reading Spirit management’s comments in the BK paperwork, it sounds like massive fleet reductions and aggressive cost-cutting is their plan in round 2.
I know you don’t need me to tell you this, but lead, you’re on fire!
I know you don’t need me to tell you this, but lead, you’re on fire!
09-01-2025 | 01:51 PM
#82
That/It/Thang
Joined: Aug 2020
Posts: 3,463
Likes: 275
Just a few of your classic denial posts:
How much responsibility do you take for telling those of us that posted months ago what was going to happen, that we were just "losers who left NK and cant stay away?" These are just a few of your posts. Also plenty doubting a displacement/furlough bid was coming etc...
Point is you have personally caused more doubt for any NK pilots on this thread than any other pilots, past NK or present. You are in no position to tell other people they are tools
Point is you have personally caused more doubt for any NK pilots on this thread than any other pilots, past NK or present. You are in no position to tell other people they are tools
09-01-2025 | 02:35 PM
#84
Line Holder
Joined: Sep 2017
Posts: 1,169
Likes: 164
From: NK CA
Just a few of your classic denial posts:
How much responsibility do you take for telling those of us that posted months ago what was going to happen, that we were just "losers who left NK and cant stay away?" These are just a few of your posts. Also plenty doubting a displacement/furlough bid was coming etc...
Point is you have personally caused more doubt for any NK pilots on this thread than any other pilots, past NK or present. You are in no position to tell other people they are tools
How much responsibility do you take for telling those of us that posted months ago what was going to happen, that we were just "losers who left NK and cant stay away?" These are just a few of your posts. Also plenty doubting a displacement/furlough bid was coming etc...
Point is you have personally caused more doubt for any NK pilots on this thread than any other pilots, past NK or present. You are in no position to tell other people they are tools
09-02-2025 | 07:58 AM
#85
Banned
Joined: Jul 2023
Posts: 633
Likes: 32
https://airlinegeeks.com/2025/09/02/...to-bankruptcy/
ago
So Spirit’s latest Chapter 11 wasn’t really about them running out of money—it was more about AerCap pulling the rug out from under them.
On Aug. 25, AerCap (their biggest lessor) suddenly canceled 36 future Airbus deliveries for 2027–2028 and claimed defaults on 37 planes Spirit already flies, which is about a quarter of their fleet. Spirit says they weren’t behind on payments and calls the whole thing “extraordinary.”
Once those notices hit, Spirit had to disclose it to the SEC. That’s when things got messy—because if other lessors or lenders saw Spirit’s “biggest partner” claiming default, they could’ve all piled on. Filing Chapter 11 was basically Spirit hitting the pause button to stop a domino effect.
Now they’re saying they’re in talks with AerCap to work it out.
ago
So Spirit’s latest Chapter 11 wasn’t really about them running out of money—it was more about AerCap pulling the rug out from under them.
On Aug. 25, AerCap (their biggest lessor) suddenly canceled 36 future Airbus deliveries for 2027–2028 and claimed defaults on 37 planes Spirit already flies, which is about a quarter of their fleet. Spirit says they weren’t behind on payments and calls the whole thing “extraordinary.”
Once those notices hit, Spirit had to disclose it to the SEC. That’s when things got messy—because if other lessors or lenders saw Spirit’s “biggest partner” claiming default, they could’ve all piled on. Filing Chapter 11 was basically Spirit hitting the pause button to stop a domino effect.
Now they’re saying they’re in talks with AerCap to work it out.
09-02-2025 | 08:09 AM
#87
Line Holder
Joined: Sep 2021
Posts: 439
Likes: 30
https://airlinegeeks.com/2025/09/02/...to-bankruptcy/
ago
So Spirit’s latest Chapter 11 wasn’t really about them running out of money—it was more about AerCap pulling the rug out from under them.
On Aug. 25, AerCap (their biggest lessor) suddenly canceled 36 future Airbus deliveries for 2027–2028 and claimed defaults on 37 planes Spirit already flies, which is about a quarter of their fleet. Spirit says they weren’t behind on payments and calls the whole thing “extraordinary.”
Once those notices hit, Spirit had to disclose it to the SEC. That’s when things got messy—because if other lessors or lenders saw Spirit’s “biggest partner” claiming default, they could’ve all piled on. Filing Chapter 11 was basically Spirit hitting the pause button to stop a domino effect.
Now they’re saying they’re in talks with AerCap to work it out.
ago
So Spirit’s latest Chapter 11 wasn’t really about them running out of money—it was more about AerCap pulling the rug out from under them.
On Aug. 25, AerCap (their biggest lessor) suddenly canceled 36 future Airbus deliveries for 2027–2028 and claimed defaults on 37 planes Spirit already flies, which is about a quarter of their fleet. Spirit says they weren’t behind on payments and calls the whole thing “extraordinary.”
Once those notices hit, Spirit had to disclose it to the SEC. That’s when things got messy—because if other lessors or lenders saw Spirit’s “biggest partner” claiming default, they could’ve all piled on. Filing Chapter 11 was basically Spirit hitting the pause button to stop a domino effect.
Now they’re saying they’re in talks with AerCap to work it out.
09-02-2025 | 09:16 AM
#88
Line Holder
Joined: Apr 2007
Posts: 1,412
Likes: 12
From: A320
Right? Then if they are defaulting on 30 aircraft…….AND…….loosing hundreds of millions per quarter, what the hell is the money going towards? Something seems off.
09-02-2025 | 09:25 AM
#89
Line Holder
Joined: Jan 2024
Posts: 892
Likes: 151
Based on my very meager experience in contracts, there are often some very broad definitions of default even when no payments are late. Wouldn’t be surprised if the credit card holdbacks or drawing down the credit line plausibly triggered some liquidity covenant in the lease provision.
09-02-2025 | 09:26 AM
#90
On Reserve
Joined: Oct 2016
Posts: 81
Likes: 16
https://airlinegeeks.com/2025/09/02/...to-bankruptcy/
ago
So Spirit’s latest Chapter 11 wasn’t really about them running out of money—it was more about AerCap pulling the rug out from under them.
On Aug. 25, AerCap (their biggest lessor) suddenly canceled 36 future Airbus deliveries for 2027–2028 and claimed defaults on 37 planes Spirit already flies, which is about a quarter of their fleet. Spirit says they weren’t behind on payments and calls the whole thing “extraordinary.”
Once those notices hit, Spirit had to disclose it to the SEC. That’s when things got messy—because if other lessors or lenders saw Spirit’s “biggest partner” claiming default, they could’ve all piled on. Filing Chapter 11 was basically Spirit hitting the pause button to stop a domino effect.
Now they’re saying they’re in talks with AerCap to work it out.
ago
So Spirit’s latest Chapter 11 wasn’t really about them running out of money—it was more about AerCap pulling the rug out from under them.
On Aug. 25, AerCap (their biggest lessor) suddenly canceled 36 future Airbus deliveries for 2027–2028 and claimed defaults on 37 planes Spirit already flies, which is about a quarter of their fleet. Spirit says they weren’t behind on payments and calls the whole thing “extraordinary.”
Once those notices hit, Spirit had to disclose it to the SEC. That’s when things got messy—because if other lessors or lenders saw Spirit’s “biggest partner” claiming default, they could’ve all piled on. Filing Chapter 11 was basically Spirit hitting the pause button to stop a domino effect.
Now they’re saying they’re in talks with AerCap to work it out.
Acting through Wilmington Trust Company, owner trustee.
§ One event of default provision cited by AerCap in their Notices states:
“The occurrence of any of the following will constitute an Event of Default and material breach of this Lease by LESSEE: ... (n) any proceedings, resolutions, filings or other steps are instituted or threatened with respect to LESSEE relating to the bankruptcy, liquidation, reorganization or protection from creditors of LESSEE or a substantial part of LESSEE's property. If instituted by LESSEE, the same will be an immediate Event of Default. If instituted by another Person, the same will be an Event of Default if not dismissed, remedied or relinquished within 60 days.”
The Termination Notice also cites to a cross-default provision which applies to the 36 lease agreements ted to the Undelivered Aircraft.
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