David Davis,is that you?

The Ringer

Nah that’s Unc Teddy

Eat **** *******!

Oh great! I guess there’s no need for a bailout after all and profitability has arrived.

Maybe his good news were the Trump comments? Which were immediately shot down by the secretary of transportation.

I wonder if the government gets first dibs on assets if it fails. That would leave investors with zero leverage. Also would let government say they tried to help. This could be good news for NK to get through the July DIP payment anyway.

This might be a schizo theory, but if the admin bails out NK, it would not be surprising if they were forced to start doing deportation flights at a steep discount.

Despite all of the things that Duffy and analysts have said, it looks like the government might be giving Spirit $500,000,000 taxpayer dollars.

Incredible developments

Rescue package - $500 million in financing

it's said "could" didn't say it was going to. Could be a spirit exec leaking this info to keep them going or looking for a partner for another week.
I wouldnt hold my breath but I hope im wrong

The country is already trillions of dollars in debt. What’s the harm in throwing away $500 million. Kind of ironic from the guy who claimed to be against st government waste. I guess DOGE only applies to political opponents.

that "could" statement sure got a political spin pretty quick.
Is it good if it happens because it saves jobs for a while or bad because Trump did it, or bad because it goes against DODGE?
Im not sure what im supposed to think unless someoen tells me

Well ladies and gentleman my job here is done.

A heart felt thank you to all the Spirit team members for not giving up hope. The next year is going to get interesting.

Phase 1 bailout and exit bankruptcy
Phase 2 break even Q4
Phase 3 take first new delivery and go public “again”
Phase 4 accept acquisition from (confidential) government gets their investment back.

Live happily ever after longevity intact.

P.S. save every drop of fuel you possibly can. Seriously every drop. SE taxi, OPT ALT, short cuts, idle DES, Flap3 and APU off.

Signing off,

The calm Captain

This is a phenomenal level of trolling and I'm here for it.

What a waste of gov $, why would they want equity in this poorly run and managed company?

Then how about all government employees use Spirit for official travel as well? New base is DCA or IAD.

I bet b6 astros are shadow boxing now.

Go **** yourself!

Didn’t mean to be political. I think that it’s bad that the government is possibly going to throw half a BILLION dollars at a company that hasn’t been able to make money for years, even with cheap gas. I don’t wish harm for the employees, but this is a colossal waste of taxpayer money. This is after Duffy talked about throwing good money after bad. The irony to me was how this administration initially claimed to be attacking government waste, and then they write a check for $500,000,000. I will never cease to be amazed at how wasteful our government can be.

*Loan possibly generating interest recoverable in liquidation or mergers

Quite simply the sales pitch is; without assistance to the value carriers, there's a high probability of 5 bankruptcies and possibly 2 or 3 liquidations if you do nothing...

That is an incredible amount of economic damage..

And hence why $500mil to stabilize the market is probably the best choice.. even if other airlines come after..

What is the legal process for an executive branch to provide a bailout without congressional approval?

I believe the precedent started with airline bailouts in 2001, bank bailouts in 2008, airline bailouts in 2020, Intel I guess took a similar deal 3 years ago.. so.. there's undoubtedly precedent for it..

All of which required an Act of Congress.

Congress holding the "power of the purse" is an antiquated concept of constitutional tomfoolery...

[ ;) ]

i’d say about the same as the executive branch starting unnecessary wars

except there is like 70 years of precedence on that and the military is funded.


500 million would have to come from some
authorized bucket that’s just sitting around.

I feel like this is a targeted leak from spirit management and the discussions maybe aren’t as progressed as they would like us to believe. Especially after Duffy’s comments last night.

Unfortunately, it looks better on paper. In the past, taxpayers bailing airlines out have been the ones screwed, any way you sugarcoat it.

This doesn’t stabilize any market, though. It buys them a few more months of runway.

this is agree with. Maybe I read it wrong the first time.
How about if they get a loan all the C suite do not get paid until its paid back?
government gets first dibs on all collateral..and executives forgo any golden parachute if they fail?
I wonder if they'd still ask...
Im more of a gov stay out of it guy myself

Exactly. This just uses tax dollars to federally subsidize a specific company that is hemorrhaging cash. The value market is stable, it’s just over saturated between the ULCC’s and the basic economy seats from the legacies flooding the market. There will still be too many seats in the market when they burn through this and nothing will change. The other value carriers aren’t making money either. I guess in a few years if they are in really big trouble they can just pony up to the trough and ask for their 500 mil. If the government can run on borrowed money with no ability to pay it back, I guess it makes sense that they provide individual companies with the same opportunity.

For half a billion, they could write every employee a check for $40k and say “This is a better use of money instead of giving it to management and having them light it on fire”

Nah, we will give out some more bonuses like these:

https://i.imgur.com/m9FJpFj.jpeg

Bankruptcy Retention Bonus…
thanks for steering the ship into the iceberg!! Have a milli on us for your trouble!

Double Dave got nearly 3 million just for hopping on board. Gotta retain the best and brightest. It's amazing that Ted got nearly 9 million in compensation in the two worst years in the company's history up until that point.

it’s just so disappointing to see. I know enough to know I can’t run an airline, but I definitely know I can run one in to bankruptcy too