{
  "docId": "019de072-da08-73aa-9d39-ca121b34dff7",
  "docSlug": "3a5434df92c75e6020cb29e08f3abe35",
  "documentTitle": "Spirit | Mergers and Acquisitions Presentation Deck | 29 slides",
  "authorId": "spirit",
  "authorName": "Moelis & Company",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-05-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7744917,
  "pageNumber": 28,
  "pageCount": 29,
  "prevPage": 27,
  "nextPage": 29,
  "slideType": "villain_critique",
  "function": "name_villain",
  "density": "dense",
  "nDataPoints": 9,
  "notes": "Uses a comparative bar chart to highlight JetBlue's disadvantage in destinations, passenger volume, and unit costs (CASM) compared to the proposed combined entity.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de072-da08-73aa-9d39-ca121b34dff7/28",
  "deckHref": "/decks/019de072-da08-73aa-9d39-ca121b34dff7",
  "deckJsonHref": "/decks/019de072-da08-73aa-9d39-ca121b34dff7.json",
  "deckAnchorHref": "/decks/019de072-da08-73aa-9d39-ca121b34dff7#slide-28",
  "components": [
    {
      "bbox": {
        "h": 0.55,
        "w": 0.55,
        "x": 0.04,
        "y": 0.32
      },
      "kind": "chart",
      "text": "Comparison of Destinations, Passengers, and CASM Ex-Fuel",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7831e6f2-87e7-49f0-9935-eaa9ab37cd29",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.38,
        "x": 0.6,
        "y": 0.23
      },
      "kind": "list",
      "text": "JetBlue Seems Afraid to Compete with a Combined ULCC...and We Understand Why",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "47fcb1c9-8fd6-44f5-a8d0-b205dfa18084",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.01,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "1. Based on FY2021 or as of December 31, 2021. 2. Based on average of Spirit and Frontier 2021 CASM Ex-Fuel vs. JetBlue 2021 CASM Ex-Fuel.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d999cc83-9914-4c4a-bd5f-e3301e7ce786",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.92,
        "x": 0.04,
        "y": 0.13
      },
      "kind": "subtitle",
      "text": "With fares >3x higher than Spirit and Frontier, JetBlue appears to be worried about competing against a combined ULCC that has greater reach and a larger network than JetBlue!",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "07e6fb32-78f8-4e08-8cd0-c28bfda62f68",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.72,
        "x": 0.14,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Believe JetBlue’s Real Motivation Is to Break Up The Spirit / Frontier Merger",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e2322651-8062-4981-9863-c44a03c60dc6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "villain_critique",
      "slug": null,
      "matchId": "38fb3a46-599b-4616-aafc-54db99f56ba4",
      "evidence": "The slide frames JetBlue as the antagonist acting against the interests of consumers and shareholders.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}