Spirit Airlines apologized to the American public during a last minute bankruptcy hearing Tuesday morning just days after its shock shutdown.
The budget-friendly airline shut down with immediate effect Saturday, impacting thousands of passengers who became stranded and nearly as many employees.
Marshall Huebner, an attorney for the former airline, took the stand in front of Judge Sean H. Lane in a White Plains, New York, courtroom to discuss the hardship it encountered that led to its shutdown, including a dramatic rise in fuel prices resulting from the U.S. and Israel’s war with Iran.
This is a good point:
“This is a non-binding pledge of intent only. No funds are collected at this stage. This is not a securities offering, investment contract, or financial instrument. Any references to profit-sharing, dividends, or ownership are proposed concepts only — not confirmed arrangements. The final cooperative structure must be reviewed and approved by qualified securities and aviation counsel before any binding commitments are made. Participation does not guarantee ownership, financial return, or membership in any final entity.”
Still though, I worry that a lot of people are going to be tricked into thinking it’ll be one thing, give money (once they’re actually taking money), and be deceived. Keeping my eye out, just in case, and hopefully others are keeping an eye on it, too.
If they do solidify it being owned by the people like how they’re advertising, that’s awesome and I’m in.