Spirit Airlines files for Bankruptcy Protection

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The US big 3 have all stated they'll hire any NK crews who want to keep working in the industry.
UA are still honoring ID90 fares for NK staff for 2 weeks, even though their credentials technically are no longer valid.
 
Sad to see such a disrupter fall over. Hoping JetBlue can pull through and not go down the same path.
This piece in CNN sets out some of its problems. With such poor customer service ratings, a seemingly low fare isn't going to cut in. Other low cost carriers like Allegiant and Breeze are doing ok.
From the article:
“Bottom line: the day of being able to maintain business just on the basis of offering a low fare is over,” said Boyd. “It was not the price of fuel that did (Spirit) in. It just accelerated the demise of a doomed airline.”
 
Does Spirit own any of their aircraft?
57 of the aircraft were owned by the airline. 20 of them were sold during the bankruptcy protection negotiations to CSDS Asset Management.

Part of the reason the planned bailout collapsed was because the US Gov wanted to take control of 90% of the airline and take full ownership of half of the fleet for US Mil use. (basically the US Gov getting 45 ~$200 million aircraft for ~$11k each.)
The airline was better able to get the cash needed to pay their debts by shutting down and selling off their assets at market rates.
 

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