Spirit Airlines
Spirit Airlines has filed for Chapter 11 bankruptcy protection after years of financial losses and failed merger attempts.
The Florida-based airline has secured a debt restructuring agreement and plans to raise funds during the bankruptcy process, expected to last until early 2025.
Operations will continue as usual, and passengers will not be impacted.
Spirit has struggled with losses since the COVID-19 pandemic and recently posted a $360 million loss in the first half of 2024. The airline faced increased competition, rising operating costs, and mechanical issues with its aircraft.
Spirit’s merger attempts with JetBlue and Frontier Airlines failed in recent years. As part of the bankruptcy process, Spirit will be delisted from the New York Stock Exchange, and its stock will be canceled.
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