Smiley/OCD
Well-Known Member
Exactly correct…they were leveraged out the wazoo…their plan B was the merger and when that was denied, they were just a crisis away….
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News Spirit Airlines cessation of operations
- Thread starter IanDLBZF
- Start date
Smiley/OCD
Well-Known Member
I stand corrected…I thought it was only Sanford…hopefully they could expand their presence at MCO
Sirwalterraleigh
Premium Member
Should be illegal…it corps cooking their own books.
Rather simple…don’t need Chicago or Stanford circular logic to splain this one away.
“I’ll buy me so I’m worth more…”
Common sense not all that common
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Sirwalterraleigh
Premium Member
Right on schedule…
parksandtravel
Well-Known Member
Right? What will be the excuse when its not just Spirit?But they managed to be in ops for 34 years
Sirwalterraleigh
Premium Member
Economic meltdown probably
Andrew C
You know what's funny?
Huh? The airline industry is littered with these stories. If airlines don’t fail, they get acquired by others before they fail. It’s quite an industry. If they were allowed to merge with jet blue maybe some of their employees would still be employed. For spirit….it was obvious they were hanging on by a thread.
Sirwalterraleigh
Premium Member
Good news: less people from New Jersey in Epcot
Bad news: they spend lb for lb as much or more than anywhere…so them prices is going up
flynnibus
Premium Member
But not with the same business plan over that period. As they say.. nothing more useless than road behind you.But they managed to be in ops for 34 years
flynnibus
Premium Member
Airlines lease planes... it's normal. Leasing has nothing to why they went under.
What Spirit tried to do was use expansion as their way past their problems.. basically spend spend spend.. gambling that somehow it will get better if they just had better coverage. But instead COVID slammed them in the face.. and then all their sins couldn't be bailed out by growth that didn't happen. They gambled.. and the house won.
The political parties are pumping the hell out of the narrative that the government caused this by blocking the merger.. that's nothing but propaganda pushed through pumped social media channels. Spirit was on the block because the model had already shown not to be working - Selling was an out. But a merger still would have cost thousands of jobto be cut due to duplication, and it could have brought they both down by this point with other travel crisises like we are facing now. JetBlue would have taken on more debt to do the deal and stretched themselves out to absorb what Spirit had did, and was pulling themselves down.
The truth is Low Cost Carriers have all struggled in the US far worse than in Europe.. where even there, carriers go belly up. The model is highly risky and has far greater exposure to disruptions in business. They didn't have the power to hedge fuel successfully.. and changes to the fuel market are massive hits to cash flow. Be in bankruptcy a few times, and you're not going to get affordable loans to carry you through the tough times.
This is all about the gambles Spirit took, that they lost, and then their business model left them exposed to. There is a reason airlines need mass to push through these kinds of things and why consolidation is a recurring theme ever since deregulation took effect.
Sorry Spirit.. but you gambled and lost. You had to go.
What Spirit tried to do was use expansion as their way past their problems.. basically spend spend spend.. gambling that somehow it will get better if they just had better coverage. But instead COVID slammed them in the face.. and then all their sins couldn't be bailed out by growth that didn't happen. They gambled.. and the house won.
The political parties are pumping the hell out of the narrative that the government caused this by blocking the merger.. that's nothing but propaganda pushed through pumped social media channels. Spirit was on the block because the model had already shown not to be working - Selling was an out. But a merger still would have cost thousands of jobto be cut due to duplication, and it could have brought they both down by this point with other travel crisises like we are facing now. JetBlue would have taken on more debt to do the deal and stretched themselves out to absorb what Spirit had did, and was pulling themselves down.
The truth is Low Cost Carriers have all struggled in the US far worse than in Europe.. where even there, carriers go belly up. The model is highly risky and has far greater exposure to disruptions in business. They didn't have the power to hedge fuel successfully.. and changes to the fuel market are massive hits to cash flow. Be in bankruptcy a few times, and you're not going to get affordable loans to carry you through the tough times.
This is all about the gambles Spirit took, that they lost, and then their business model left them exposed to. There is a reason airlines need mass to push through these kinds of things and why consolidation is a recurring theme ever since deregulation took effect.
Sorry Spirit.. but you gambled and lost. You had to go.
Gringrinngghost
Well-Known Member
The issue was not the merger. They rejected Frontier last year actually. Its just that when you look at the timeline it was their new fleet, and not rebounding from COVID that killed them.
Gringrinngghost
Well-Known Member
I posted this on Reddit but here is a detailed and likely incomplete timeline of the collapse of Spirit Airlines:
Oct 23, 2019: Spirit Airlines orders 100 brand new Airbus A320 Neo aircraft. An order of this size is estimated at a cost between $10B and $12B
Dec. 2019: At the end of the year, Spirit posts a net income of $335.2M and a total debt of $3.57B, JetBlue posts a net income $569M and a debt of $3.15B. Frontier posts a net income $54M and a debt of $2.5B.
Jan 30, 2020: The World Health Organization declares the outbreak of COVID-19 a public health emergency of international concern.
March 11, 2020: The WHO declares COVID to be a pandemic.
March 13, 2020: Trump declared a national emergency 13 for COVID-19.
July 2020: American Airlines and JetBlue announce plans for a Northeast Alliance.
Dec. 2020: Due to the pandemic at the end of the year, Spirit posts net loss of $428.7M and debt increases to $4.90B, JetBlue posts a net loss of $1.35B and debt increases to $5.72B. Frontier posts a net loss of $225M and debt increases to $2.61B. Globally Major carriers reduced capacity by 80 to 95%.
January 2021: The Department of Transportation approves of the plans for a Northeast Alliance of American Airlines and JetBlue.
Sept. 2021: The Department of Justice and Six States initiated an antitrust lawsuit against the Northeast Alliance of American Airlines and JetBlue.
Dec. 2021: At the end of the year, Spirit posts net loss of $452.9M and debt increases to $5.11B, JetBlue posts a net loss of $182M and debt decreases to $4.80B. Frontier posts a net loss of $102M and debt increases to $2.84B.
Feb. 2022: Frontier Airlines announced its intention to acquire Spirit for $2.9 billion.
April 2022: JetBlue makes a $3.6 billion all-cash offer for Spirit.
May 2, 2022: Spirit board rejects JetBlue offer on antitrust risks and specifically notes the Northeast Alliance with American Airlines.
May 19, 2022: Spirit board urges Stockholders to reject JetBlue’s Offer and to vote to merge with Frontier.
July 27, 2022: Spirit announces that they have terminated the merger agreement with Frontier.
July 28, 2022: Spirit and JetBlue announce that their boards have agreed to a merger of $3.8B
Dec. 2022: At the end of the year, Spirit posts net loss of $554M and debt increases to $6.21B, JetBlue posts a net loss of $363M and debt decreases to $4.38B. Frontier posts a net loss of $37M and debt increases to $2.92B.
March 7, 2023: The Department of Justice sues to block the merger of JetBlue and Spirit.
May 19, 2023: U.S. District Judge Leo Sorokin of the United States District Court for the District of Massachusetts ruled against the JetBlue–American partnership stating it was anticompetitive.
July 5, 2023: American Airlines announces an appeal of the court’s ruling. Jetblue announces that it will oblige with the court’s ruling and will terminate the agreement and proceed with trying to Merge with Spirit.
Between July and September 2023: Pratt & Whitney starts a multi-year recall of PW1100G-JM geared turbofan (GTF) engines powering Airbus A320neo family aircraft due to contaminated powdered metal, requiring accelerated inspections and removals.
Oct. 31, 2023: The antitrust trial of the merger of Spirit and Jetblue begins in Boston.
Dec. 2023: At the end of the year, Spirit posts net loss of $447M and debt increases to $6.93B, JetBlue posts a net loss of $310M and debt increases to $5.38B. Frontier posts a net loss of $11M and debt increases to $3.45B.
January 16, 2024: The US District Court for the District of Massachusetts blocks the merger stating it was anticompetitive and that it would harm consumers.
March 4, 2024: Jetblue officially abandons the merger with Spirit Airlines. Jetblue pays Spirit a $69M fee.
March 29, 2024: Due to issues in the Airbus A320neos using Pratt and Whitney PW1100G engines, which represents upwards of 20% of their fleet. Spirit is credited till the end of the year $150M to $200M in the form of a “monthly credit from International Aero Engines”
In 2024 the number of grounded Spirit aircraft due to the Pratt and Whitney engine recall is around 40.
Nov 8, 2024: The U.S. Court of Appeals for the First Circuit upholds Judge Leo Sorokin ruling against the JetBlue–American partnership.
Nov. 18, 2024: Spirit files for Chapter 11 bankruptcy
Dec. 2024: At the end of the year, Spirit posts net loss of $1.23B and debt decrease to $6.81B, JetBlue posts a net loss of $795M and debt increases to $9.14B. Frontier posts a net income of $85M and debt increases to $4.46B.
Jan. 29, 2025: Spirit Airlines and Frontier revive merger talks as disclosed in a security filing. Spirit notes it declined an “inadequate and unactionable” offer but would consider a revised offer.
Feb. 4, 2025: Frontier submits offer for Spirit
Feb. 7, 2025, Spirit submitted a counterproposal to Frontier
Feb. 10, 2025: Frontier rejects the Spirit Counterproposal in its entirety and reiterated the Feb. 4 offer
Feb. 11 2025: Spirit Airlines rejects the revised merger offer from Frontier worth around $2.16B
March 2025: Spirit exits bankruptcy after financial restructuring
April 2025: American Airlines sues JetBlue for $100M over the Northeast Alliance
May 29, 2025: Jetblue and United announce plans for a partnership that allows travelers to book flights on both carriers' websites and to use their respective loyalty points.
June 9, 2025: Spirit amends their agreement and receive get compensation subject to conditions from Pratt and Whitney from the groundings worth between $150M-$195M
June 30, 2025: The United States Supreme Court rejects an appeal by American Airlines regarding the JetBlue–American partnership.
July 29, 2025: The United States Department of Transportation approves Jetblue and United’s partnership.
Aug. 12 2025, Spirit Airlines said it might not be able to survive a year.
Aug. 29 2025: Spirit files again for Chapter 11 bankruptcy. Spirit notes they have around $8.1B in debt.
Sept. 2025: Spirit Announces plans to furlough a third of their flight attendants and to reduce in November their scheduled flights by 25%.
Sept. 3, 2025: Spirit has 38 grounded Airbus A320neos with recalled PW1100G engines.
Oct. 3 2025: Spirit files in bankruptcy court documents to reject 87 aircraft leases representing 40.65% of their fleet. The size of Spirits fleet is to go from around 214 to around 127.
Oct. 17 2025: Spirit announces plans to furlough 365 pilots and to downgrade upwards of 160 more pilots in Q1 of 2026.
Dec. 15 2025: Spirit gets a $100M lifeline. $50M is immediate, and the additional $50M is dependent on making continued progress towards reorganization or another merger offer.
Dec. 2025: At the end of the year, Spirit posts net loss of $2.7B. JetBlue posts a net loss of $602M and debt increases to $9.42B. Frontier posts a net loss of $137M and debt increases to $5.46B.
Feb 13, 2026: Spirit announces a deal to sell 20 aircraft and to recall furloughed flight attendants. Spirits fleet is down to around 100 aircraft.
Feb 22, 2026: A judge rules that Jetblue has to face an American Airlines lawsuit for $100M
Feb 28, 2026: Israel and the United States launch a joint attack on Iran and that causes in the forthcoming weeks for oil prices surge more than 55% with jet fuel increasing by 82%
March 25, 2026: JetBlue obtains advisers for potential sale according to Semafor
April 15, 2026: Reports emerge that Spirit was facing possible liquidation by the end of the week
April 16, 2026: David Neeleman the founder of Jetblue says the airline is at risk of going bankrupt in 2026 due to fuel prices.
April 17, 2026: Reports emerge that Spirit has asked the Trump Administration for a bailout
April 20, 2026: Jetblue CEO Joanna Geraghty tells employees the carrier was not considering bankruptcy for 2026
April 22, 2026: Bloomberg Reports that Spirit and the White House are nearing a deal where the U.S. Federal Government would own 90% of Spirit.
April 23, 2026: President Trump says he's weighing deal for the U.S to takeover Spirit. Trump also openly mulls that "when the prices of oil goes down, we’ll sell it for a profit,"
April 24, 2026: CBS News reports that the White House is “exploring using the Defense Production Act” to save Spirit
April 26, 2026: The Wall Street Journal reports that the Association of Value Airlines has asked the Trump Administration for a $2.5B plan to offset fuel costs increases due to the war in Iran
May 1, 2026 at 11:00am ET: The Wall Street Journal Reports that Spirit is preparing to shut down
May 1, 2026 around 1pm ET: It was reported that President Trump as given "a final proposal" for a federal bailout to save Spirit
May 1, 2026 at 4:00pm ET: The Wall Street Journal collaborates earlier reporting in the day by CBS News that Spirit was expected to Cease Operations Around 3 AM Eastern.
May 1, 2026 at around 8:00pm ET: Reports emerge on Social Media that Spirit has started to cancel flights for that evening.
May 1, 2026 at 8:59pm ET: Bloomberg Reports that the Federal Government and Spirit have ended talks without a deal being reached.
May 2, 2026 at 1:09am ET: Flight 1833 from Detroit to Dallas lands marking the final flight of Spirit.
May 2, 2026: Spirit Airlines ceases operations at 3 AM Eastern.
Oct 23, 2019: Spirit Airlines orders 100 brand new Airbus A320 Neo aircraft. An order of this size is estimated at a cost between $10B and $12B
Dec. 2019: At the end of the year, Spirit posts a net income of $335.2M and a total debt of $3.57B, JetBlue posts a net income $569M and a debt of $3.15B. Frontier posts a net income $54M and a debt of $2.5B.
Jan 30, 2020: The World Health Organization declares the outbreak of COVID-19 a public health emergency of international concern.
March 11, 2020: The WHO declares COVID to be a pandemic.
March 13, 2020: Trump declared a national emergency 13 for COVID-19.
July 2020: American Airlines and JetBlue announce plans for a Northeast Alliance.
Dec. 2020: Due to the pandemic at the end of the year, Spirit posts net loss of $428.7M and debt increases to $4.90B, JetBlue posts a net loss of $1.35B and debt increases to $5.72B. Frontier posts a net loss of $225M and debt increases to $2.61B. Globally Major carriers reduced capacity by 80 to 95%.
January 2021: The Department of Transportation approves of the plans for a Northeast Alliance of American Airlines and JetBlue.
Sept. 2021: The Department of Justice and Six States initiated an antitrust lawsuit against the Northeast Alliance of American Airlines and JetBlue.
Dec. 2021: At the end of the year, Spirit posts net loss of $452.9M and debt increases to $5.11B, JetBlue posts a net loss of $182M and debt decreases to $4.80B. Frontier posts a net loss of $102M and debt increases to $2.84B.
Feb. 2022: Frontier Airlines announced its intention to acquire Spirit for $2.9 billion.
April 2022: JetBlue makes a $3.6 billion all-cash offer for Spirit.
May 2, 2022: Spirit board rejects JetBlue offer on antitrust risks and specifically notes the Northeast Alliance with American Airlines.
May 19, 2022: Spirit board urges Stockholders to reject JetBlue’s Offer and to vote to merge with Frontier.
July 27, 2022: Spirit announces that they have terminated the merger agreement with Frontier.
July 28, 2022: Spirit and JetBlue announce that their boards have agreed to a merger of $3.8B
Dec. 2022: At the end of the year, Spirit posts net loss of $554M and debt increases to $6.21B, JetBlue posts a net loss of $363M and debt decreases to $4.38B. Frontier posts a net loss of $37M and debt increases to $2.92B.
March 7, 2023: The Department of Justice sues to block the merger of JetBlue and Spirit.
May 19, 2023: U.S. District Judge Leo Sorokin of the United States District Court for the District of Massachusetts ruled against the JetBlue–American partnership stating it was anticompetitive.
July 5, 2023: American Airlines announces an appeal of the court’s ruling. Jetblue announces that it will oblige with the court’s ruling and will terminate the agreement and proceed with trying to Merge with Spirit.
Between July and September 2023: Pratt & Whitney starts a multi-year recall of PW1100G-JM geared turbofan (GTF) engines powering Airbus A320neo family aircraft due to contaminated powdered metal, requiring accelerated inspections and removals.
Oct. 31, 2023: The antitrust trial of the merger of Spirit and Jetblue begins in Boston.
Dec. 2023: At the end of the year, Spirit posts net loss of $447M and debt increases to $6.93B, JetBlue posts a net loss of $310M and debt increases to $5.38B. Frontier posts a net loss of $11M and debt increases to $3.45B.
January 16, 2024: The US District Court for the District of Massachusetts blocks the merger stating it was anticompetitive and that it would harm consumers.
March 4, 2024: Jetblue officially abandons the merger with Spirit Airlines. Jetblue pays Spirit a $69M fee.
March 29, 2024: Due to issues in the Airbus A320neos using Pratt and Whitney PW1100G engines, which represents upwards of 20% of their fleet. Spirit is credited till the end of the year $150M to $200M in the form of a “monthly credit from International Aero Engines”
In 2024 the number of grounded Spirit aircraft due to the Pratt and Whitney engine recall is around 40.
Nov 8, 2024: The U.S. Court of Appeals for the First Circuit upholds Judge Leo Sorokin ruling against the JetBlue–American partnership.
Nov. 18, 2024: Spirit files for Chapter 11 bankruptcy
Dec. 2024: At the end of the year, Spirit posts net loss of $1.23B and debt decrease to $6.81B, JetBlue posts a net loss of $795M and debt increases to $9.14B. Frontier posts a net income of $85M and debt increases to $4.46B.
Jan. 29, 2025: Spirit Airlines and Frontier revive merger talks as disclosed in a security filing. Spirit notes it declined an “inadequate and unactionable” offer but would consider a revised offer.
Feb. 4, 2025: Frontier submits offer for Spirit
Feb. 7, 2025, Spirit submitted a counterproposal to Frontier
Feb. 10, 2025: Frontier rejects the Spirit Counterproposal in its entirety and reiterated the Feb. 4 offer
Feb. 11 2025: Spirit Airlines rejects the revised merger offer from Frontier worth around $2.16B
March 2025: Spirit exits bankruptcy after financial restructuring
April 2025: American Airlines sues JetBlue for $100M over the Northeast Alliance
May 29, 2025: Jetblue and United announce plans for a partnership that allows travelers to book flights on both carriers' websites and to use their respective loyalty points.
June 9, 2025: Spirit amends their agreement and receive get compensation subject to conditions from Pratt and Whitney from the groundings worth between $150M-$195M
June 30, 2025: The United States Supreme Court rejects an appeal by American Airlines regarding the JetBlue–American partnership.
July 29, 2025: The United States Department of Transportation approves Jetblue and United’s partnership.
Aug. 12 2025, Spirit Airlines said it might not be able to survive a year.
Aug. 29 2025: Spirit files again for Chapter 11 bankruptcy. Spirit notes they have around $8.1B in debt.
Sept. 2025: Spirit Announces plans to furlough a third of their flight attendants and to reduce in November their scheduled flights by 25%.
Sept. 3, 2025: Spirit has 38 grounded Airbus A320neos with recalled PW1100G engines.
Oct. 3 2025: Spirit files in bankruptcy court documents to reject 87 aircraft leases representing 40.65% of their fleet. The size of Spirits fleet is to go from around 214 to around 127.
Oct. 17 2025: Spirit announces plans to furlough 365 pilots and to downgrade upwards of 160 more pilots in Q1 of 2026.
Dec. 15 2025: Spirit gets a $100M lifeline. $50M is immediate, and the additional $50M is dependent on making continued progress towards reorganization or another merger offer.
Dec. 2025: At the end of the year, Spirit posts net loss of $2.7B. JetBlue posts a net loss of $602M and debt increases to $9.42B. Frontier posts a net loss of $137M and debt increases to $5.46B.
Feb 13, 2026: Spirit announces a deal to sell 20 aircraft and to recall furloughed flight attendants. Spirits fleet is down to around 100 aircraft.
Feb 22, 2026: A judge rules that Jetblue has to face an American Airlines lawsuit for $100M
Feb 28, 2026: Israel and the United States launch a joint attack on Iran and that causes in the forthcoming weeks for oil prices surge more than 55% with jet fuel increasing by 82%
March 25, 2026: JetBlue obtains advisers for potential sale according to Semafor
April 15, 2026: Reports emerge that Spirit was facing possible liquidation by the end of the week
April 16, 2026: David Neeleman the founder of Jetblue says the airline is at risk of going bankrupt in 2026 due to fuel prices.
April 17, 2026: Reports emerge that Spirit has asked the Trump Administration for a bailout
April 20, 2026: Jetblue CEO Joanna Geraghty tells employees the carrier was not considering bankruptcy for 2026
April 22, 2026: Bloomberg Reports that Spirit and the White House are nearing a deal where the U.S. Federal Government would own 90% of Spirit.
April 23, 2026: President Trump says he's weighing deal for the U.S to takeover Spirit. Trump also openly mulls that "when the prices of oil goes down, we’ll sell it for a profit,"
April 24, 2026: CBS News reports that the White House is “exploring using the Defense Production Act” to save Spirit
April 26, 2026: The Wall Street Journal reports that the Association of Value Airlines has asked the Trump Administration for a $2.5B plan to offset fuel costs increases due to the war in Iran
May 1, 2026 at 11:00am ET: The Wall Street Journal Reports that Spirit is preparing to shut down
May 1, 2026 around 1pm ET: It was reported that President Trump as given "a final proposal" for a federal bailout to save Spirit
May 1, 2026 at 4:00pm ET: The Wall Street Journal collaborates earlier reporting in the day by CBS News that Spirit was expected to Cease Operations Around 3 AM Eastern.
May 1, 2026 at around 8:00pm ET: Reports emerge on Social Media that Spirit has started to cancel flights for that evening.
May 1, 2026 at 8:59pm ET: Bloomberg Reports that the Federal Government and Spirit have ended talks without a deal being reached.
May 2, 2026 at 1:09am ET: Flight 1833 from Detroit to Dallas lands marking the final flight of Spirit.
May 2, 2026: Spirit Airlines ceases operations at 3 AM Eastern.
Smiley/OCD
Well-Known Member
I knew it wouldn’t take long…
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Smiley/OCD
Well-Known Member
I’m sure Breeze & Frontier will add more airports to pick up the Spirit slack…
Smiley/OCD
Well-Known Member
A business just starts to turn the corner and make a small profit and right away, let’s expand…we’ll make twice as much money, twice as fast…one crisis and it’s more often like we’ve lost twice as much money twice as fast…I’ve seen it happen more times than I can count…
Breeze just announced flights from ACY to MCO starting July 3.
Smiley/OCD
Well-Known Member
whoops, missed it.
I spent a bit of time today comparing Spirit's final MCO itineraries, and it looks like the only city left without service or advertised service at this point is Latrobe PA. Which means they'll have to drive the hour to PIT.
Sorry.
Sorry.