Kirby was WRONG!
04-17-2026 | 07:56 AM
#301
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,847
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From: Engines Turn or People Swim
An airline in bankruptcy almost needs to be forced to put up a repatriation pot of money for customers. If they go under, customers would be purchased a flight back home on another carrier from that money/insurance policy. I had a friend ask me if they should purchase a flight on Spirit and I had to warn them of the risks. At some point, the bad news on TV starts a death spiral that will make recovery impossible. I feel for everybody that is having to go through the current situation as an employee.
Many or most companies that are in the position to file BK in the first place would be forced into immediate liquidation if they had to post bond for all customer obligations.
04-17-2026 | 08:19 AM
#302
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Joined: Jul 2011
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04-17-2026 | 08:33 AM
#303
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Joined: Sep 2014
Posts: 682
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You know it's a good majority how? Show your work before you paint with such a broad brush, and I hope you're not making that conclusion due to APC comments 
. Otherwise, don't make sheit up that's not there. No one talks about NK in indoc, they are too busy giving out the blue juice.
Maybe it's your way of feeling good if you tell yourself you have haters?
. Otherwise, don't make sheit up that's not there. No one talks about NK in indoc, they are too busy giving out the blue juice.Maybe it's your way of feeling good if you tell yourself you have haters?
04-17-2026 | 08:39 AM
#304
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Joined: Apr 2020
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Many other industries take money before delivery, or have ongoing obligations to customers (ex. automotive warranty).
Many or most companies that are in the position to file BK in the first place would be forced into immediate liquidation if they had to post bond for all customer obligations.
Many or most companies that are in the position to file BK in the first place would be forced into immediate liquidation if they had to post bond for all customer obligations.
The "holdback" by the credit card companies cut both ways though; it places limits on a carriers cash flow at a time most needed.
Again, this is all from memory of a past experience. Truly wish the best for the NK employees.
S
04-17-2026 | 08:52 AM
#306
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Joined: Sep 2020
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In cases similar to NK's, the credit card companies routinely increase the "holdback" money (a percentage of the price of a purchased ticket). This is held back money that (I believe) the credit card companies pay the airline once the purchased flight is completed. So in a sense, if the airline shuts down, a ticket purchased with a credit card can be refunded back to the affected passenger.
The "holdback" by the credit card companies cut both ways though; it places limits on a carriers cash flow at a time most needed.
The "holdback" by the credit card companies cut both ways though; it places limits on a carriers cash flow at a time most needed.
In other news Spirit filed its February operating report and even after all the cost cutting and returning leases is still had an operating loss of $58M in February, over $2M a day. I can't imagine that's not at least $4M a day now with fuel prices where they are.
04-17-2026 | 09:46 AM
#307
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Joined: Feb 2022
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From: Guppy
This whole deal reminds me of watching the weather forecast in the midwest. One channel leads with the possibility of strong storms, large hail, and tornadoes. The other channels jump onboard and all of a sudden they act like the end of the world is coming. Usually nothing happens, but when it eventually does they stand proudly and say that they told us so. Spirit is definitely in very serious trouble but the media seems more concerned with partaking in the hype than simply reporting the facts. If it bleeds it leads I guess.
04-17-2026 | 10:38 AM
#308
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Joined: Jul 2023
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US Bank, Spirit's credit card processor is actually holding most of Spirit's "cash on hand" to do just this, refund tickets in the event Spirit closes doors.
In other news Spirit filed its February operating report and even after all the cost cutting and returning leases is still had an operating loss of $58M in February, over $2M a day. I can't imagine that's not at least $4M a day now with fuel prices where they are.
In other news Spirit filed its February operating report and even after all the cost cutting and returning leases is still had an operating loss of $58M in February, over $2M a day. I can't imagine that's not at least $4M a day now with fuel prices where they are.
04-17-2026 | 10:57 AM
#309
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Joined: Mar 2018
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Stated in monthly terms instead of daily, $63.6M of fuel expenses... so $124M/mth in fuel now. Ouch
04-17-2026 | 11:23 AM
#310
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,847
Likes: 654
From: Engines Turn or People Swim
In cases similar to NK's, the credit card companies routinely increase the "holdback" money (a percentage of the price of a purchased ticket). This is held back money that (I believe) the credit card companies pay the airline once the purchased flight is completed. So in a sense, if the airline shuts down, a ticket purchased with a credit card can be refunded back to the affected passenger.
The "holdback" by the credit card companies cut both ways though; it places limits on a carriers cash flow at a time most needed.
Again, this is all from memory of a past experience. Truly wish the best for the NK employees.
S
The "holdback" by the credit card companies cut both ways though; it places limits on a carriers cash flow at a time most needed.
Again, this is all from memory of a past experience. Truly wish the best for the NK employees.
S
CC companies do that not to pro-actively protect the consumer, but because they are already on the hook in many or most cases, based on their agreements.
My thought in response to the bond idea was that anyone that stupid deserves to lose their money. If you're smart enough to use a CC that has built-in protections, then you don't lose your money.
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