It's a season of savings for travelers. Spirit Airlines just published dozens of one-way flight deals under $25, including flights to popular destinations including Atlanta, Las Vegas, Los Angeles, New York City, and more. The discount carrier published the offers in the «Popular Flight Deals on Spirit» section of their website, and the fares are available in limited supply with no published end date. All of the fares are in Spirit's «Go» class of service, which only includes one personal item and does not include carry-on or checked bag included in the price. Passengers can add these amenities for an additional cost, or upgrade to a higher fare class where the bags and advanced seat assignment are included. Travel + Leisure spotted a variety of the one-way fares available including:
Spirit Airlines considers bankruptcy filing, WSJ reports
03.10.2024 - 23:51 / thepointsguy.com / Ted Christie / Spirit Ceo
Spirit Airlines is considering filing for bankruptcy protection amid mounting financial losses following its failed merger with JetBlue, according to a report from the Wall Street Journal.
The airline is in discussions with creditors about restructuring the company, the Journal reported, citing multiple unnamed sources familiar with the matter. Spirit has been exploring multiple options, including an out-of-court sale or transaction, as well as a possible chapter 11 filing. Agreeing with bondholders and other creditors on a restructuring could support the airline's bankruptcy case, which has been the focus of the most recent discussions.
Notably, nothing is happening right away. While the timing of a potential bankruptcy filing was not clear, it is not imminent, according to the Journal's sources.
The report specified that the bankruptcy would focus on restructuring the airline through a possible chapter 11 process, suggesting that liquidation — a possibility that some industry analysts noted earlier this year — was not under consideration.
"We recognize this sounds alarmist and harsh, but the reality is we believe there are limited scenarios that enable Spirit to restructure," TD Cowen Helane Becker wrote in a research note in January after the airline's merger with JetBlue was blocked.
When reached for comment on Thursday, a Spirit spokesperson pointed to remarks from CEO Ted Christie during the airline's second-quarter earnings call in August.
Spirit has found itself unable to become profitable since the onset of the pandemic in 2020, and has racked up $3.3 billion in debt, some of which comes due soon, including $1.1 billion in bonds.
U.S. airlines have become more reliant on premium revenue since the pandemic began, while traditional carriers also have learned to master the "basic economy" concept, somewhat neutralizing the competitive advantage that ultra-low-cost airlines like Spirit previously enjoyed.
Spirit has also been hit particularly hard by an issue with certain Pratt & Whitney engines, which has forced it to ground parts of its fleet throughout the past year.
The airline has tried to stem the losses by shrinking its operational footprint, as well as changing its fare product structure and introducing several tiers of premium seating options.
An acquisition seemed to be the airline's best path forward, and possibly its only option to avoid a restructuring. During a month-long antitrust trial in Boston that closed in December of last year, Spirit CEO Ted Christie and others testified that due to the changing market, Spirit could not continue operating in its current form as an ultra-low-cost carrier.
JetBlue, meanwhile, argued that by absorbing Spirit, it could double its size and
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