Added to YB: 2024-10-23
Pitch date: 2024-10-22
SAVE [bullish]
Spirit Aviation Holdings, Inc.
-82.97%
current return
Author Info
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Company Info
Spirit Aviation Holdings, Inc. engages in providing passenger air transportation services. The company serves destinations throughout the United States, Latin America and the Caribbean with its all-Airbus Fit Fleet.
Market Cap
$51.5M
Pitch Price
$2.73
Price Target
N/A
Dividend
N/A
EV/EBITDA
27.37
P/E
-0.18
EV/Sales
1.47
Sector
Passenger Airlines
Category
special_situation
Spirit Airlines' $300M Debt Extension Reduces Bankruptcy Risk, Unlocks Speculative Upside
SAVE (special sit): Opened small speculative position. $300M new debt reduces bankruptcy risk. $1B total liquidity. Likely intentional underperformance to force bondholder cooperation. Industry profitable, peers near highs. Survival could mean multiples of current price. $3.5B JetBlue, $2B Frontier past offers vs $300M market cap. Merger possible post-election. High risk remains.
Read full article (1 min)