875 Bits & Pieces XXXIII

An upcoming listener survey, the Engine Cowl aviation news, Christmas Trees and B-17’s, Spirit Airlines’ debtor-in-possession (DIP) credit agreement, Poor Little Lambs (The Baa Baa Black Sheep Story), and making the Airplane Geeks Podcast.

Rytis Beresnevicius, the Engine Cowl

Rytis Beresnevicius is an independent aviation journalist who started the Engine Cowl on September 1, 2025, to provide the latest news about the aviation industry through daily posts and newsletters. He previously worked at AeroTime and Simple Flying, and has also written for AirInsight and other publications. Rytis is based in Lithuania.

Although not originally an AvGeek, Rytis developed a passion for the industry. He tries to go to the source of stories and does not simply rehash press releases or rely on the reporting of others. There is no AI at The Engine Cowl.

Airplane Geeks Listener Survey

As we prepare for a listener survey, we invite you to submit your questions for Airplane Geeks listeners.

Christmas Trees & B-17’s

Originally aired in 2022 and written for the Plane Talking UK podcast Christmas show, Micah tells the story of Si Spiegel, who was still alive at the time of the writing. He flew west on January 21, 2024, at the age of 99. From the New York Times: Si Spiegel, War Hero Who Modernized Christmas Trees, Dies at 99.

Spirit Airlines’ debtor-in-possession (DIP) credit agreement

Previously, we talked about Spirit Airlines and the Chapter 11 bankruptcy process. Specifically, we mentioned the Spirit Airlines’ debtor-in-possession (DIP) credit agreement and wondered who was providing the additional funding to Spirit.

Spirit Airlines entered into a Debtor In Possession Term Loan Credit and Note Purchase Agreement with Wilmington Savings Fund Society, FSB, which acts as both administrative agent and collateral agent. The actual lenders are the various DIP creditors that become parties to the agreement, with Wilmington Savings Fund Society representing their interests.

In Spirit’s restructuring, the DIP financing is being provided by existing bondholders and senior secured noteholders, who are referred to as the “DIP creditors” in the agreement. Those noteholders, acting through Wilmington Savings Fund Society as agent, supply the money that adds up to several hundred million dollars to fund operations during Chapter 11.

In other words, no single bank is the economic lender; instead, the financing is syndicated across Spirit’s existing secured noteholders and bondholders, with  Wilmington only acting in an agency capacity.

• Form 10-K, Commission File No. 001-35186, Spirit Airlines, Inc.
• Debtor In Possession Term Loan Credit and Note Purchase Agreement.

Poor Little Lambs, The Baa Baa Black Sheep Story

Author Stephen “Chappie” Chapis spent nearly two decades researching, conducting interviews, and collecting rare materials to write Poor Little Lambs: The Baa Baa Black Sheep Story. This is a comprehensive account of the beloved 1970s television series Baa Baa Black Sheep. Brian and Micah spoke with Chappie about his book. See: POOR LITTLE LAMBS: The Definitive Baa Baa Black Sheep Book Lands on the 49th Anniversary of Flying Misfits.

Making the Airplane Geeks Podcast

If you’ve ever wondered how we make the Airplane Geeks podcast, listen to this “behind the curtain” description.

Hosts this Episode

Max Flight, Brian Coleman, and our Main(e) Man Micah.