#chaptereleven

I work at Spirit and I don’t know what to think anymore. The company just got court approval for $475 million in financing to keep things running during bankruptcy, but everyone here knows what that really means. Chapter 11 sounds like a plan to reorganize, but for the people doing the day-to-day work, it usually means job cuts, unpaid overtime, and endless waiting for answers that never come.

Management keeps saying operations will continue as normal, but that's not helping morale. Some teams are already being told to cut spending and delay projects, and everyone’s whispering about more potential furloughs. I’ve seen this kind of thing before in other airlines, and it always starts with a few quiet layoffs before the bigger rounds hit. I really hope they handle this the right way, but most of us are just bracing ourselves and hoping to survive the next few months.

The quarter is looking so rough and it’s hard to imagine 2025 closing above $10 a share. By mid-2026 exits from both institutional investors and larger accounts can only speed up, meaning the stock will see under $8 and more like the upper fives by end of 2026. The second half of 2026 will very likely be brutal on the layoffs front, we will see daily scrambles to cut costs and preserve every single cent. Some of CES’s best bits will probably cheaply end up in the hands of third-tier and fourth-tier competitors just to raise cash. Then comes 2027 and a Chapter 11 filing will look much less like a possibility and more like a certainty. Honestly Rawul should already be on the phone with a seasoned bankruptcy lawyer.
For short sellers out there the momentum is on your side.

If Intel weren’t as massive as it is and didn’t have its long history propping it up, it would’ve been looking at Chapter 11 or even Chapter 7 a long time ago.