Spirit Airlines Sets Stage for Emergence with Creditors’ Agreement
TL;DR
Spirit Airlines announced it reached an agreement in principle with its DIP lenders and secured noteholders on key restructuring terms, paving the way to emerge from Chapter 11 in late spring or early summer as a leaner, low‑cost carrier with a substantially reduced debt load (about $2.1B post‑emergence from roughly $7.4B pre-filing), an optimized network, expanded premium offerings, and enhanced loyalty programs, while continuing to book and travel as normal.
- Spirit Airlines Reaches Agreement in Principle on Key Terms of Restructuring Support Agreement with Its Secured Creditors Spirit Aviation Holdings, Inc.
- Spirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring CNBC
- Spirit Airlines expects to exit Chapter 11 bankruptcy by summer TribLIVE.com
- Spirit seals deal with lenders to emerge from bankruptcy as smaller airline Reuters
- Spirit Airlines Plans Life After Bankruptcy With Creditor Deal WSJ
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