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Spirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring
Spirit Airlines will cut flights by nearly 40% this summer and reduce debt from $7.4 billion to $2.1 billion to emerge leaner from Chapter 11 bankruptcy.
- Unveiling in U.S. Bankruptcy Court on Tuesday, Spirit Airlines plans to shed Airbus aircraft and exit Chapter 11 in late spring or early summer, filings show.
- Facing mounting operational setbacks, Spirit faced a Pratt & Whitney engine recall and a federal judge‑blocked JetBlue deal, amid post-Covid cost pressures, according to filings.
- Under the proposal, Spirit would cut annualized fleet costs by $550 million and target another $300 million in non-fleet savings, using a smaller fleet of older Airbus planes.
- Pilots and flight attendants have faced furloughs as the network reduction continues, though some cabin crew returned ahead of spring break; a smaller Spirit will compete against larger U.S. carriers amid rising industry costs.
- Entering a second bankruptcy in under a year, Spirit lost nearly $257 million from March 13 through June, and court filings describe the plan as challenging.
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Spirit Airlines, which was in danger of closing due to constant losses and two bankruptcy filings, has reached an agreement that will allow it to survive, albeit as a smaller company.
Spirit Aviation Strikes Deal to Exit Chapter 11 Later This Year
Spirit Aviation Holdings Inc. has struck an agreement with noteholders that will allow the US budget airline to exit bankruptcy later this year, capping a tumultuous period marked by strained finances and competitive pressure.
·United States
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Spirit Airlines reaches deal to emerge from bankruptcy, avoiding closure threat
Spirit Airlines, which had been in danger of going out of business due to ongoing losses and two bankruptcy filings, has reached a deal that will allow it to survive, albeit as a smaller company.
·Atlanta, United States
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Total News Sources61
Leaning Left9Leaning Right2Center41Last UpdatedBias Distribution79% Center
Bias Distribution
- 79% of the sources are Center
79% Center
L 17%
C 79%
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