Bitchin Dave's Newsletter - May 19th
What happened a few weeks ago with Spirit airlines is maybe a little dispiriting (pun intended) for several specific reasons: we lost a low cost carrier that drove the competition to keep pricing down, there were many thousands of workers who were laid off, and we got a not-so-great lesson in economics. It's that lesson that I wanted to talk about. Spirit was a Fort Lauderdale - based airline, and that made it an employer of note in my hometown. Did I love them? No. Had I ever flown them? Also no. But they drove some amount of economy here locally. Sometime around 2016, Frontier looked to acquire them, but the price point was too low, and the sharehol...