Spirit Furloughing

my neighbors Son-in-law is a Spirit CA (albeit still young <35) but he is pretty upset...I'm trying to help him get on with AA...but there's a long line to a class date these days.. (9 months+)

NK folks reach out to everyone you know...we're here to help!
 
Boots2Wings said:
Im not sure if it is a taboo opinion, but i hope our shops resume talks, if they already havent. Really think a ULCC conglomerate could perform well.
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I don't think there's anything taboo about this take, and I think that it would have been an easier 'sell' to the regulators too. But that and $3.70 gets you a hot cup of tea out here.
 
I think we can all agree in hindsight that the DOJs decision was bad for the public, and bad for Spirit. This is sad to see and I hope there is a happy ending somewhere in here...
 
Autothrust Blue said:
not all of us conclude this

but yes
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Well, JB was going to kill the model that has proven to be dead already, and absorb the people, assets, maybe routes etc. in into the JB brand. I think we are looking at the real possibility of Spirit Airlines going away completely. As it is right now, the airline is essentially worthless as a brand. Nobody wants or needs to save the Spirit name. The airplanes and other assets can be bought and absorbed by anyone and everyone right now and simply folded into their growth plans without any positive impact to the customers that Spirit currently serves. The stock is basically worthless and there is a looming bankruptcy that is coming in the next several days it sounds like. I can't possibly fathom how this current outcome is better for the public than the merger with JB in hindsight.
 
Randomly the day before this happened I spent 6 hours updating my log book and applying to the big 3. I’m super comfortable and would hate to leave but it is what it is. The same day the stock fell the union sent an email that said schedules are being cut for October and beyond and hinted that more furloughs are around the corner. My guess would be that furloughs will be announced Oct 10th and I wouldn’t be surprised if the number was higher than the last round.
 
As much as this sucks, ch 11 is not liquidation. It’s certainly possible Spirit would come out on the other end leaner and meaner. Hopefully the manufacturing woes are sorted out soon and the industry returns to growth.
 
CFIT99 said:
my neighbors Son-in-law is a Spirit CA (albeit still young <35) but he is pretty upset...I'm trying to help him get on with AA...but there's a long line to a class date these days.. (9 months+)

NK folks reach out to everyone you know...we're here to help!
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Yeah, my buddy is a captain there. He got a CJO with us back in the spring, but no class date yet.
 
bimmerphile said:
is Frontier in dire straits as well? I’d argue if someone else is doing it successfully the business model isn't dead.
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We’re talking more about the failed ULCC model and not the maturing debt load spirit has that is going to be due <2 years with no liquidity to pay it. It’s something to the affect of $2 billion (1.1 in under 12 months) due in under 2 years with no where near having money to pay it.

Based on what I understand they have till Oct 21 to extend the notes and why the conversation has changed to Chapter 11 now. (Despite their ceo continually saying it won’t happen the past couple months)

This really is not a surprise (if you look at the stock price you can see). In July they got a brutal downgrade by credit agencies then hedge funds have been warning investors they saw a default on their debt coming up and 6-8 months later here we are. I am not as familiar with Frontier but there’s obvious issues that got them here, the neos parked and failed ULCC models.

Chapter 11 could be good news for the airlines future, just sucks those good employees will most likely have to go through it. And I’m on the side too that the DOJ could have avoided all of this.
 
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I've got nothing useful to say, other than this just sucks all around, and I feel for you guys. I know guys who went there for specific reasons and intended to stay for a career (basing, QOL, work schedule, etc), long before this was on the horizon. In contrast to the stereotypes of the passenger experience and the passengers themselves, I heard almost entirely positive things from guys flying there. Hopefully spirit wings will figure their way out of this.
 
Never met a NK guy that was anything less than stellar; a particular captain, bent over backwards to get me on a flight outta SAN a month ago when i had to get home after my brothers funeral. One of the few guys I've seen actually make the walk; and damn if he didn't go above and beyond to help my discombobulated behind get home (and still pushed on time).
Were all pulling for ya, reach out if you need anything folks.
 
I'm not sure why we're all writing obituaries. It sounds like they have the possibility of bankruptcy, but even so, it sounds like IF that happens, it will be a restructuring bankruptcy. It's not a sign of fun times ahead, but almost every airline out there has been through one or more already.
 
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