Flight ticket sales and all other operations will continue as normal, the company said Monday, just 10 days before Thanksgiving.

Summary

Spirit Airlines has filed for Chapter 11 bankruptcy, citing mounting losses, debt, and the failure of its proposed $3.8 billion merger with JetBlue.

Operations, including ticket sales, will continue as normal, with the airline securing $300 million in financing and planning to exit bankruptcy by early 2025.

Spirit has also arranged a $350 million equity investment from bondholders.

Struggling since the pandemic, Spirit deferred $1.1 billion in debt, faced an engine recall, and announced cost-cutting measures, including job cuts and selling older planes.

  • HobbitFoot English
    2·
    29 days ago

    Yeah, but a lot of that comes from the legacy airlines in the US becoming low cost carriers.

    I won’t be surprised when it happens to the EU when more flag carriers go bankrupt.