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Spirit Airlines Is Winding Down All Operations

spiritrestructuring.com

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Re: Spirit Airlines Is Winding Down All Operations

#32

Post by ozgrakkurt »

epistasis wrote: post #4

This process may seem ugly, but just like biological death is necessary for an ecosystem, this sort of death/restructuring is essential for capitalist economies. Assets and capital get reallocated to better uses. It's all part of the circle of life.

Ideally, they should have stopped selling tickets and then stopped the flights when the sold flights were done. At least within some time frame like 1 month

Re: Spirit Airlines Is Winding Down All Operations

#34

Post by _moof »

charcircuit wrote: post #21
_moof wrote: post #14

Earlier quoted context omitted.

You've just decided, all by yourself, that customers are "low priority people." Why?

The law specifies the order people get paid out for a bankruptcy.

Which law? 14 CFR Part 260 requires air carriers to refund tickets on cancelled flights.

Re: Spirit Airlines Is Winding Down All Operations

#35

Post by KaiserPro »

charcircuit wrote: post #12
mikelitoris wrote: post #7

Earlier quoted context omitted.

Is this an actual question? I’ll answer it anyway: because they had nothing to do with financial market risk shenanigans and just wanted to get somewhere.

[flagged]

Customers are creditors, as they have given money in credit in exchange for a service at a later date.

Re: Spirit Airlines Is Winding Down All Operations

#37

Post by _moof »

victorbjorklund wrote: post #23
_moof wrote: post #10

Earlier quoted context omitted.

The customers are creditors.

It is a fair question. Normally customer creditors ends up last in the line.

Aviation has stricter laws when it comes to customers. I don't have citations off the top of my head but it's not a normal customer-business relationship.

EDIT: 14 CFR Part 260.

Re: Spirit Airlines Is Winding Down All Operations

#38

Post by dooglius »

epistasis wrote: post #4

This process may seem ugly, but just like biological death is necessary for an ecosystem, this sort of death/restructuring is essential for capitalist economies. Assets and capital get reallocated to better uses. It's all part of the circle of life.

> biological death is necessary for an ecosystem

Can you expand on this? How do you explain e.g. ecosystems around centuries-old redwoods?

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