Spirit Airlines has filed for Chapter 11 bankruptcy protection due to losses, debt, and a failed merger amidst the post-pandemic travel slowdown. The airline has secured a prearranged deal with bondholders for $300 million in financing to help it stay afloat, with plans to emerge from bankruptcy in the first quarter of 2025. The company assures that flight ticket sales and operations will continue as normal. CEO Ted Christie expressed satisfaction with the agreement with bondholders, viewing it as a vote of confidence in the airline’s long-term plan. The company had previously postponed $1.1 billion in debt payments until next year. The announcement comes just ahead of the anticipated surge in Thanksgiving travel. This is a developing story, with updates to be provided as new information becomes available.
Photo credit
www.nbcnews.com
Spirit Airlines declares bankruptcy
Previous article![]( "St. John’s No. 22 survives New Mexico challenge in Pitino family showdown | National")
Next article![]( "Council’s Approval of CBN Contracts Recommended for Tuesday – Part 1 – Los Alamos Reporter")
