I'm looking over the statement now, remember we had lower fares in 2015 compared to 2014, fares actually decreased. The Net Operating income is a 40% increase, looks like mainly due to decreased fuel expenses.

The thing that actually makes me a little nervous is the fact that they ended 2015 with over $800M in cash.

 

I'm just so f*@&~ng ****ed at the whole process. While Spirit continues with the profits, it takes us 5 years to get a new contract. If the economy hiccups, they'll be knocking on the door right away asking for MORE relief.

What a deal!

 

We've been amendable for 6.5 months. But I understand your frustration

 

Why does that make you nervous? I guess in my mind when you don't own anything you need more cash available?

 

Actually, our property and equipment assets have increased dramatically from 2014, we started purchasing our own aircraft.

The fact that we have so much cash on hand means a couple of things, shielding against future downturns and lower interest. But, that cash can't just sit there without being used and over 2014 it's only been used to repurchase shares, that amount of cash makes investors nervous. Management will claim the cash is needed to fund growth, but growth (increased capacity) drives down yields, which hurts the expectations or the appearance of expectations. Plus, that much cash puts a target on the company's back, especially with such a low share price.

Interesting to hear Mr. Fornaro's intent and focus on improving reliability and the customer service aspect of the airline. Decreased utilization rate was an interesting aspect as was the fact that he doesn't anticipate a reduction in growth.

First question is on M&A, you can see where analysts are hoping further action in share price is going to come from.

 

I don't think anyone in management has actually said that. They don't want to pay us is what they've said.

 

I'm The first and easiest step to improving the customer experience would be sending the pilots a contract that is worthy of being ratified. At that point many of us will go back to propping up their operational failures which contribute to our horrible reliability. currently I have quit micromanaging the baffoonary they have implemented in every department needed to support us. When they are serious about compensating us at what a professional Airbus pilot is getting compensated then I'll go back to micromanaging their lack of leadership.

To be clear I do everything in my job description as a professional to operate the flight as safely as possible. What I don't do is all the stuff outside of my job description to make up for inadequacies elsewhere.

 

Ding ding. Hit the nail on the head brother.

 

This right here.

 

I just finished listening to the call. I liked a lot of what Bob said regarding improving customers experience. Whether or not anything changes, who knows. What I am concerned with is how he commented that they are actively revising the fleet plan and should be done 'in a few weeks'. Anyone else get bad vibes from that comment, or was he just referring to keeping some 319's longer??