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Spirt filed for Chapter 11 again

Old 04-16-2026 | 04:47 AM
  #981  
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The auction occurs on Monday, April 20.

The buyers take possession at VCV.

Spirit has some time after April 20 to get the planes to VCV, but I forget how long.

Good luck to all. This sucks.
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Old 04-16-2026 | 10:39 AM
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No other bidders expressed interest, no auction. It’s already a done deal.

Originally Posted by SummitNJ
The auction occurs on Monday, April 20.

The buyers take possession at VCV.

Spirit has some time after April 20 to get the planes to VCV, but I forget how long.

Good luck to all. This sucks.
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Old 04-16-2026 | 11:26 AM
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Originally Posted by MikeOxlong
No other bidders expressed interest, no auction. It’s already a done deal.
This was my understanding as well. $533M I thought was the final deal made? Hopefully enough to carry Spirit forward for even just a little longer.
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Old 04-16-2026 | 11:32 AM
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Originally Posted by Stayontarget
This was my understanding as well. $533M I thought was the final deal made? Hopefully enough to carry Spirit forward for even just a little longer.
Spirit owns no planes outright. This is going to bring very little, if any, cash after liens and leasings/loans are satisfied
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Old 04-16-2026 | 11:43 AM
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Originally Posted by MikeOxlong
No other bidders expressed interest, no auction. It’s already a done deal.
My mistake. You are correct. No auction.
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Old 04-16-2026 | 11:46 AM
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Originally Posted by flier320
Spirit owns no planes outright. This is going to bring very little, if any, cash after liens and leasings/loans are satisfied
Ya probably true. I wasn’t sure how much equity they had on those planes.
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Old 04-16-2026 | 10:44 PM
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The reason the court won’t let NK out of BK is because the plan is not viable. There is also a responsibility to protect the investors.
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Old 04-17-2026 | 12:21 PM
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Was the catalyst of this the PW engines? Or multitude of things?
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Old 04-17-2026 | 04:00 PM
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Originally Posted by Milk Man
Was the catalyst of this the PW engines? Or multitude of things?
The PW is the scape goat for bad management and a business model that was failing and management didn’t take note, and instead, thought it was slow covid recovery

Facts are if those PW planes had been flying, they would be losing more money with each departure. Frontier having issues too, JBLU having issues. The market is speaking. Only LCC still hanging in there are the ones paying rock bottom wages to offset cheap tickets.
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Old 04-17-2026 | 04:56 PM
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Originally Posted by CincoDeMayo
The PW is the scape goat for bad management and a business model that was failing and management didn’t take note, and instead, thought it was slow covid recovery

Facts are if those PW planes had been flying, they would be losing more money with each departure. Frontier having issues too, JBLU having issues. The market is speaking. Only LCC still hanging in there are the ones paying rock bottom wages to offset cheap tickets.
Hence the SWA MASSIVE pivot
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