US EditionBWI's second-largest airline emerges from bankruptcy
- Spirit Airlines has emerged from Chapter 11 bankruptcy, completing its restructuring process and becoming a stronger airline, according to CEO Ted Christie.
- The airline reduced its debt by about $795 million and received a $350 million equity infusion to support future initiatives.
- Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.
- Christie stated that the airline is ready to take on competitors like Southwest Airlines amid changes in the industry's pricing strategies.
45 Articles
45 Articles
Spirit Airlines says exits bankruptcy after restructuring
New York, United States — Budget airline Spirit, which filed for bankruptcy in November after months of difficulties, announced Thursday it had completed a restructuring deal with creditors to trim its debt by nearly $800 million. “With significantly less debt and greater financial flexibility, Spirit emerges (from Chapter 11 bankruptcy protection) as a stronger company
Spirit Airlines Bounces Back From Bankruptcy, Set To Enhance Passenger Services - Frontier Group Holdings (NASDAQ:ULCC), Spirit Airlines (OTC:SAVEQ)
Spirit Aviation Holdings, Inc. (OTC:SAVEQ), the parent company of Spirit Airlines, LLC (OTC:SAVEQ) announced that it has successfully completed its financial restructuring. What Happened: The United States Bankruptcy Court for the Southern District of New York has confirmed Spirit’s Plan of Reorganization, with a supermajority of the company’s loyalty and convertible noteholders offering immense support, stated the company via press release. The…
Associated Press News
Spirit Airlines exits bankruptcy protection as travel demand slows
Discount carrier Spirit Airlines has emerged from bankruptcy protection. The budget airline — known for its no-frills, low-cost flights on a fleet of yellow planes — said this week that its parent, Spirit Aviation Holdings, exited Chapter 11 after finalizing debt restructuring.
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