Kirby was WRONG!
Yesterday | 01:58 PM
#501
Almost there
Joined: Apr 2021
Posts: 1,978
Likes: 118
This industry is about the unexpected happening and being able to deal with the unexpected. The oil price isn’t even that high when compared to previous “high oil” events. In the end, the Iran war was just the final light breeze that would have pushed the Jenga tower that is Spirit, over. That’s the industry.
Spirit will get their $500m bailout, and it will open the Pandora’s box of open hands from other airlines. Let that begging begin.
Spirit will get their $500m bailout, and it will open the Pandora’s box of open hands from other airlines. Let that begging begin.
Yesterday | 02:45 PM
#502
On Reserve
Joined: Dec 2021
Posts: 150
Likes: 28
Yesterday | 03:34 PM
#503
Gets Weekends Off
Joined: Nov 2005
Posts: 2,699
Likes: 48
Yesterday | 06:41 PM
#505
On Reserve
Joined: Mar 2024
Posts: 170
Likes: 98
Spirit had no way of making the DIP repayment of 475 million coming up in July. The war was unfortunate, but it only fast tracked the inevitable.
Yesterday | 06:52 PM
#506
On Reserve
Joined: Feb 2020
Posts: 125
Likes: 34
From: ERJ CA
Yesterday | 09:55 PM
#507
On Reserve
Joined: Jun 2019
Posts: 101
Likes: 107
That's not true, the confirmation plan laid out exactly what they would do with the DIP lenders. (They would be mostly equitized) Though it also assumed the elevated fuel prices would settle back towards $2.35 in mid-May which was obviously in hindsight unrealistic. But if the Iran War did not happen Citibank would likely have not filed the objection (their main issue was the fuel price) and the confirmation hearing would've proceeded.
Today | 02:31 AM
#509
Line Holder
Joined: Nov 2015
Posts: 1,865
Likes: 179
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