John Regan أُعيد تغريده
Grandpa is having a senile moment again. So much to unpack here.
First he claims that Spirit was about to merge with People Express. People Express went out of business in 1987. Spirit didn't even form until 1983 as Charter Airlines and didn't acquire its first jet and become Spirit until 1992. Dude doesn't even know what century he's in.
Then he claims that if we bought Spirit, we'd be buying a company with virtually no debt. The whole reason Spirit is going bankrupt because of its debt. It has 7.4 billion worth, in fact.
He then goes on to say that Spirit's problem is high oil prices. Spirit has been failing for years, and especially last year when oil prices were at their lows. The reason Spirit is failing is because they never recovered their post-Covid budget traveler segment and, as a low cost carrier, they can't increase prices without losing their captured customer base, which means their margins are being crushed. Rising fuel costs are just the last cherry on top.
As if ALL THIS weren't bad enough, Trump then goes on to claim that he could "flip" the company because "they've got a lot of good aircraft". One of Spirit's biggest problems is that a large portion of their fleet is grounded because Pratt & Whitney sold them a bunch of dud engines and the frames aren't airworthy. Spirit literally can't even use a lot of its "very good aircraft".
They also haven't been profitable in 7 years.
Someone put grandpa to bed, he's gotten into the medicine cabinet again.
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