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Spirit Airlines Files for Bankruptcy
18.11.2024 - 11:17 / nytimes.com / Spirit Airlines / Ted Christie
Spirit Airlines, whose approach to selling cheap tickets without amenities earned it fans and detractors, filed for bankruptcy protection on Monday after a string of setbacks, most recently a failure to renegotiate its looming debt.
The airline, whose last annual profit was in 2019, has had trouble finding its footing after a federal judge blocked a planned merger with JetBlue Airways in January. Spirit has also struggled to capitalize on the recovery from the pandemic because of intense competition, engine problems and other factors.
The company filed for Chapter 11 bankruptcy protection in New York. It also announced an agreement with bondholders to restructure its debts and raise money to help it operate during the bankruptcy process, which it expected to exit in the first quarter of next year.
The company published an open letter to customers noting that fliers could “use all tickets, credits and loyalty points as normal.”
Ted Christie, Spirit’s chief executive, said in a statement that the arrangements announced on Monday represented a “a strong vote of confidence in Spirit and our long-term plan.”
The airline said in a court filing that it had 25,000 to 50,000 creditors, and total debt of about $9 billion at end of September.
Fly to Las Vegas, Orlando, Phoenix, and More for Less Than $70 With Allegiant's Latest Deals
Allegiant Air, a low-cost airline based in Las Vegas, recently published dozens of last-minute flight deals to popular destinations throughout Florida, including Fort Myers, Tampa, and Orlando. The deals also extend to popular winter getaways such as Las Vegas and Phoenix, and best of all, most of the flights are under $70 one-way.
Spirit Airlines’ Black Friday Sale Has Flights to Fort Lauderdale, Myrtle Beach, and More Starting at Just $25
Spirit Airlines is dialing up some cheap Black Friday fares with one-way flights starting as low as $25.
The Best Black Friday Mattress Deals for Hotel-Quality Sleep (2024)
One of the best feelings after a long day of traveling is sinking into a cozy hotel bed, and this Black Friday is the perfect time to recreate that luxury in your own home. Whether you're upgrading your current mattress or decorating a new guest room, this is the ideal time to score incredible deals on top-rated options. With deep discounts and bundles available, Black Friday offers the best value for a quality mattress that will transform your sleep experience. Imagine the comfort and support of a plush hotel bed every night, now at a fraction of the price. After all, your entire mood can be determined by how best your mattress fits you, so make the decision wisely. To help guide your choice, we've included a range of options designed to fit your sleep preferences and budget—from memory foam to hybrid and innerspring models.
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What Went Wrong at Spirit Airlines and How It Will Affect You
Spirit Airlines is embracing the “new year, new me” mindset after announcing this week that it is filing for Chapter 11 bankruptcy. The carrier plans to debut its restructuring plan during the first quarter of 2025; it has signaled that it will be moving away from its traditional budget carrier operating model.
What Spirit Airlines Could Look Like Post-Bankruptcy
Before Spirit Airlines filed for Chapter 11 bankruptcy on Monday, it was already making some changes to its business model to lure back travelers.
Spirit Airlines Declares Bankruptcy
In a move that was not completely unexpected in the aviation industry, Spirit Airlines has declared bankruptcy.
What Does Spirit Airlines Bankruptcy Mean for Travelers?
Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday in New York. The airline will continue to operate normally in bankruptcy and says it will honor all existing reservations, tickets, flight credits, and loyalty points. Spirit also says it has already secured agreements from the majority of its creditors to restructure its outstanding debt, and it expects an expedited process that it anticipates emerging from in the first quarter of 2025.
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FAQ: Spirit Airlines' bankruptcy and how it might affect your travel
Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday, becoming the first major U.S. airline to do so since 2011.
Spirit’s Bankruptcy: Our Answers to the 5 Biggest Questions
Spirit Airlines became the first major U.S. airline in 13 years to file for a Chapter 11 bankruptcy after facing mounting debts and declining revenues.