Spirit Airlines files for bankruptcy, secures funding, and plans to resume normal operations.

Spirit Airlines has filed for Chapter 11 bankruptcy protection due to financial struggles, including mounting losses of over $2.5 billion since 2020 and substantial upcoming debt payments. The airline has reached a restructuring agreement with bondholders, securing a $350 million equity investment and $300 million in debtor-in-possession financing. Despite the bankruptcy, Spirit expects to continue normal operations and emerge from the process by the first quarter of 2025.

November 18, 2024
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