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 Considering Potential Bankruptcy Filing: WSJ
04.10.2024 - 00:57 / skift.com / Spirit Airlines / Spirit Ceo / Meghna Maharishi
Spirit Airlines has been in talks with bondholders over the terms of a potential bankruptcy filing, according to a Wall Street Journal report.
According to the report, Spirit had been exploring ways to restructure its balance sheet with an out-of-court transaction, but recent talks shifted to reaching an agreement with bondholders and creditors related to a chapter 11 filing.
The filing wouldn’t be imminent, the Journal report said.
In June, Spirit CEO told shareholders during an annual meeting that the carrier was not considering a chapter 11 bankruptcy: “We are not evaluating a Chapter 11 at this time,” Christie said at the time.
Spirit did not directly comment on the Journal’s report. Instead, it referred to Christie’s comments during the carrier’s August earnings call.
“I want to note that we are engaged in productive conversations with the advisors of our bondholders to address the upcoming debt maturities,” Christie said during the call. “Because those conversations are ongoing, we are not going to go into detail or take any questions on this topic or speculate on potential outcomes.”
Since the pandemic, Spirit hasn’t posted a profit — and its path as a standalone carrier became uncertain following the collapse of its merger with JetBlue. A lack of demand for its product, overcapacity in the domestic market and Pratt & Whitney engine issues led the budget airline to report losses.
During the second quarter, Spirit reported a loss of $192.9 million, a sharp decline from the $2.3 million loss reported at the same time last year.
The carrier has $3.3 billion in debt, including more than $1.1 billion in secured bonds that are due in less than a year.
Spirit also has an upcoming October deadline to complete renegotiations related to its more than $1.1 billion debt. The renegotiations concern an agreement Spirit has with the U.S. National Bank Association that involves processing certain payments made to it via Visa or MasterCard credit cards.
Wall Street analysts have said that depending on how negotiations related to the credit card processing agreement go, Spirit may have to consider filing for bankruptcy.
Just days ago, Spirit also scrapped 32 routes, with areas like Boston and Dallas-Fort Worth facing some of the most significant cuts. A Deutsche Bank note from this week found that Spirit would cut capacity by 20% during the fourth quarter.
The carrier has looked for other ways to shore up its profitability. In August, it said it would introduce bundled fares and a form of premium seating that blocks off the middle seat.
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