Spirit Airlines files for bankruptcy after $2B losses since 2020, aiming to emerge smaller in 2025.

Spirit Airlines filed for bankruptcy in November 2021, struggling with financial losses of over $2 billion since 2020 due to the pandemic, supply chain issues, and rising costs. The company also faced a failed merger with JetBlue and increased competition from legacy carriers. To manage losses, Spirit furloughed pilots, offered buyouts, and reduced its fleet and routes. The airline aims to exit bankruptcy in early 2025 as a smaller entity.

3 months ago
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