Spirit's six months survival hopes

The budget carrier Spirit is selling off aircraft and desperately trying to cut costs in the hopes of surviving the next six months.  The carrier has been in talks with Frontier, according to media speculation, over a possible takeover, but these are looking less and less likely.  

GA Telesis has agreed to buy 23 Airbus A320s and A321s from the low-cost airline, these planes were manufactured between 2014 and 2019.  “We are thrilled to announce this significant acquisition, which adds a large number of highly sought-after Airbus A320ceo and A321ceo aircraft to our portfolio,” said Marc Cho, President of GA Telesis LIFT Group. “The A320ceo family of aircraft is renowned for its efficiency, performance, and reliability, making it an attractive option for airlines across the world. We are confident these aircraft will provide significant value to our customers as they continue their operations.”  GA Telesis will now market these aircraft to a global customer base as demand increases dramatically in the mid-haul market. 

This extended the life of Spirit by another six months according to various sources close to the heart of the the budget airline that has been struggling to cling on since the JetBlue takeover collapsed at the hands of the authorities. The airline is facing a massive loan repayment in the next few months, which it simply doesn't have the money for and its total debt is mounting to epic proportions. 

Staff numbers are set to be reduced by 35% between now and February next year, which along with other cost-saving measures, the airline hopes will see it through until the start of the summer season next year. 

The initial talks to resurrect a merger or takeover by Frontier last week were not as positive as expected, the finance on offer is much much less than it was back before JetBlue entered the fray a few years ago and would almost certainly not be accepted by the board.  The future of any such arrangement would need to see a 'reasonable'  increase in 'financials'  according to those close to the conversation. 

Even with the benefits of bankruptcy protection, it is unlikely the carrier will be able to emerge from it without outside assistance.  Six months is, according to some, the most it can hope to go before the house of promises crumbles to dust. 

 

3D Wooden Map on the wall is a unique and eye-catching product that is perfect for decorating any living and workspace. Made of high-quality birch wood, the map features intricate details and contours that bring a realistic and beautiful representation of the world to your wall. The 3D design allows for a more immersive experience, making it an ideal addition to a living room, office or study. This product isn't only aesthetically pleasing but also serves as an educational tool, as it can be used to teach geography to children or to plan your next travel adventure. With easy installation and a durable design, a wooden map on the wall is an excellent investment for any decorator or traveller