feasible for the employees to take control?

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09-10-2024, 06:24 PM

#11

Halon1211

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Posts: 3,280

Quote:

Originally Posted by APCHCLIMB

Pilots take control of Spirit? lol. Probably go out of business even faster than you are now.

Could you imagine that Halon kid making CEO decisions?

jeeze what did I do? Don't worry about me I’m not stupid enough to want to buy a company that about to go bust. I’ll leave that for you.

09-10-2024, 07:30 PM

#12

ugleeual

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Position: 767/757 CA

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Quote:

Originally Posted by b3181981

I know it's bad advice to owe airline stocks when you're an airline pilot, eggs in one basket and all, but at what point would it make sense to take control of the company through buying the stock? At the current stock price it would cost each pilot $37000 to have 51% of the common stock.

‘we did that at United… didn’t work well except for the CEOs…

09-10-2024, 08:14 PM

#13

b3181981

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Posts: 127

Quote:

Originally Posted by CincoDeMayo

And you think you could just buy up 51% of the stock…and at the current price? Haha.

No one wouldn't be able to buy up 51% at once at the current price, but a very large group of people over time could buy it up. It looks like about three percent of the shares are trading daily so it could take a couple of weeks to do so. I'm on the outside looking in. I've just done napkin math looking between airlines and total pilots and places like United, Delta, Southwest and even frontier, the cost per pilot to by the company one could buy a house, but 37k is as pointed out a nice miata. How much money would a Spirit captain spend on union dues over a decade in comparison? Probably naivety on my part.

09-10-2024, 08:49 PM

#14

fw90

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Joined APC: Jul 2018

Posts: 12

Elliott and Ichan are wrecking SWA and JB with 10% stock. So a lot less shares need to be owned.

09-11-2024, 05:59 AM

#15

Halon1211

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Quote:

Originally Posted by ugleeual

‘we did that at United… didn’t work well except for the CEOs…

can you elaborate? What went down?

09-11-2024, 12:45 PM

#16

69fastback

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Posts: 307

Brilliant idea! Let’s buy it!

Then what?

09-11-2024, 01:04 PM

#17

Halon1211

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Quote:

Originally Posted by 69fastback

Brilliant idea! Let’s buy it!

Then what?

it goes bankrupt and we lose all our money… yes let’s do it

09-11-2024, 03:57 PM

#18

nene

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Joined APC: Nov 2020

Posts: 1,913

Quote:

Originally Posted by Halon1211

can you elaborate? What went down?

Google the United ESOP program for multitudes of info.

Heres a primer: https://plugin24.tripod.com/esop.html

09-12-2024, 12:52 AM

#19

FriendlyPilot

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Posts: 355

Quote:

Originally Posted by b3181981

If you have $37,000 (post tax) you don't ever need again then go for it. Spirit's market value is about $270M. Its projected loss in Q3 (based on management forecast of $1.16B revenue with 29% operating loss) is going to be about a $330M loss, which is more than its entire market cap.

Maybe some wallstbets group on Reddit would step in to crush the shorts and start buying shares? That would be interesting. Could turn it into a meme stock like Gamestop or AMC.