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Spirit Airlines wins court approval for bankruptcy exit, shifting control to lenders like Citadel Advisors.
Spirit Airlines received court approval for its restructuring plan, allowing it to exit Chapter 11 bankruptcy.
The plan, which includes raising $350 million in new equity, transfers ownership to lenders like Citadel Advisors.
The airline rejected a takeover bid from Frontier and will now focus on reducing debt and costs while maintaining passenger choice on no-frills fares.
Spirit aims to emerge from bankruptcy in early 2025.
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Spirit Airlines gana la aprobación de la corte para la salida de la quiebra, cambiando el control a prestamistas como Citadel Advisors.