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flag Spirit Airlines wins court approval for bankruptcy exit, shifting control to lenders like Citadel Advisors.

flag Spirit Airlines received court approval for its restructuring plan, allowing it to exit Chapter 11 bankruptcy. flag The plan, which includes raising $350 million in new equity, transfers ownership to lenders like Citadel Advisors. flag 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. flag Spirit aims to emerge from bankruptcy in early 2025.

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