SAVE Stock Recent News
SAVE LATEST HEADLINES
Spirit Airlines Inc. filed for a voluntary, pre-arranged Chapter 11 bankruptcy early Monday, capping a tumultuous period for the low-cost airline in which efforts to merge with two rivals fell through.
Spirit Airlines Inc has filed for bankruptcy protection under a bondholder-backed restructuring plan aimed at slashing debt. Under the pre-agreed deal, unveiled on Monday, bondholders will provide $300 million in debtor-in-possession financing before Spirit exits bankruptcy early next year.
Spirit Airlines (SAVE) said Monday it filed for bankruptcy protection and reached an agreement to restructure its debt with its bondholders.
Spirit said Monday that it has entered a restructuring agreement with its bondholders to reduce the debt on its balance sheet.
The last bankruptcy by a major US carrier ended when American Airlines emerged from Chapter 11 protection and simultaneously merged with US Airways in December 2013.
Spirit Airlines has filed for Chapter 11 bankruptcy protection, the company announced Monday morning.
Spirit Airlines filed for Chapter 11 bankruptcy protection. The budget-travel icon said it will continue to fly.
Spirit Airlines has filed for Chapter 11 bankruptcy protection, it said Monday. The airline will continue to operate as normal, and all tickets remain valid, it added.
Spirit has struggled since its failed acquisition by JetBlue Airways, a Pratt & Whitney engine recall and weaker-than-expected sales. The company has faced mounting losses and has been against a deadline to renegotiate $1.1 billion in debt payments due next year.
Spirit Airlines has filed for bankruptcy protection after the pioneer of no-frills travel in the U.S. struggled with a long run of quarterly losses and significant debt, it disclosed on Monday.