Sailor

because we are going to implode, and disappear altogether.

Millions of people and companies every hour make decisions to buy or sell securities. Buy crappy companies (in 2010 it was us that even some of our own coworkers didn't give us a year), and others selling apple after SJ die.) people buying FB (me) on day one, and selling 10 bucks cheaper. then buying NK again at 17.28 to get ready to sell next week at 23 (fingers crossed).

Oak-tree is just getting out an cashing in. That's all I know, since I don't seat on the board.

Some people may claim knowledge, but they just speculate with negative stuff because it triggers some weird juice in their brains.

Nobody know, except for oaktree.

Left Handed

You are right. There is no advantage to Oaktree for doing this, unless they are in cahoots with someone else who wants to buy the company. That would make no sense because Oaktree would sell their stock and have no stake in the company before the value went up. It is illegal (to collaborate) and a breach of fiduciary trust of thier own stockholders. They are just cashing out.

ALPO Whisperer

There are roughly 71 million shares outstanding of Spirit Airlines stock. 15.6 million of those shares were issued to the public upon completion of the IPO in May 2011. This left roughly 55.4 million "restricted" shares, if you will, in the hands of Oaktree, Indigo, and others after the IPO.

Oaktree has been selling off those "restricted" shares over the past year. They are now part of the public domain, or float.

Oaktree still has a small stake in Spirit Airlines. They just offered 9.4 million common shares to the public. They still hold roughly 3.6 million restricted shares (not included in the float).

Its my understanding that the stock offered last Tuesday was part of Oaktree's restricted holdings which are now to be publicly traded. The issuance of stock last Tuesday could result in dilution as LeftHanded more accurately described than I could. I think by using the term "sell" rather than "issuance," I created some confusion.

It doesn't mean there's gonna be a purchase of Spirit by another entity. I was just trying to explain that dilution could lead to possible buyout interests when the market cap is perceived to be overvalued.

The entire industry is overvalued and hence, some analysts have started recommending investors sell their airline holdings based upon peak industry load factors and peak RASM. Spirit is the exception.

Here's a link to NASDAQ's holding summary for SAVE. I find it to be pretty accurate and up-to-date:
Spirit Airlines, Inc. (SAVE) Institutional Ownership & Holdings - NASDAQ.com

Left Handed

Great find ALPO. It looks like Oaktree had 22.5M shares and sold 9.5M for a change of 42%. They now have a stake of 13M shares in spirit. Either they have additional restrictions (like they can't sell more for another 6 months, for example), or they are just taking some profit. They still have a decent investment in Spirit. There are some interesting companies invested in us!

Sailor

Thanks ALPO....

Danger Close

Oak Tree is a distressed debt fund and Spirit no longer fits their criteria

Sailor

Something like Bain Cap?

ALPO Whisperer

Whoops...you're right again! I keep screwin' this up. Oaktree has roughly 13 million shares still in this place. I subtracted the 9.4 million shares from 13 million...

I must be fatigued. Hopefully the moderators won't tell me they're 'dissapointed' in my posts.

Left Handed

Ha ha ha. I see what you did there........

Hugh Betcha

I hope so.

Steep learning curve though.

I kept wondering "what speed is it going to pick next?". Blue Speed, Double Amber Dash + 10 Speed? Mini French Fu(K speed, Orange Speed (Magenta for you Alternative Speed types)? or Gol dang it why is it Going Around Speed! Push a button! Push a button!

Like most airplanes it seems once you get the hang of it - it's all about judgement.

The RJ guys have obviously demonstrated their ability to fly the aircraft and have 121 experience. Hard to compete with that.

Unless you don't take into account entitlement and youth.

I'd rather sit next to a "analog" guy that still thinks Goldie Hawn was hot on Laugh-In and actually helps me check the logbook for screw ups.

What I don't get is the financials. Why hire a guy that will be here until we're bought, merged, grown, or stolen?

Want to keep pilot labor cost down?

DUH

The correct financial decision is to hire only over 60's that have experience.

No bent metal. Minimal FAA oversight. Minimal labor cost over the five year plan.

Delta Uniform Hotel

Edited to add:

Over 60's Don't tell, Don't Swell and they're Grateful as Hell!