8mo ago

Spirit Airlines files for bankruptcy amid growing losses and debt

www.nbcnews.com

Summary

Spirit Airlines has filed for Chapter 11 bankruptcy, citing mounting losses, debt, and the failure of its proposed $3.8 billion merger with JetBlue.

Operations, including ticket sales, will continue as normal, with the airline securing $300 million in financing and planning to exit bankruptcy by early 2025.

Spirit has also arranged a $350 million equity investment from bondholders.

Struggling since the pandemic, Spirit deferred $1.1 billion in debt, faced an engine recall, and announced cost-cutting measures, including job cuts and selling older planes.

17 comments

'Brand known for how terrible it is files for bankruptcy'
How surprising.
- It's almost like the "better" airlines already know how much you can shit on the customer base and survive. Pretty much everybody I know who has ever taken a Spirit flight has told me they never want to do it again.
  
  I'm in the minority. I love Spirit. I don't appreciate the dark patterns when purchasing tickets, but that's it.
  This is only for "short" domestic flights, <4 hours.
  
  Spirit isn't that bad, as long as you know what you're getting into. Frontier, on the other hand...
Plus they had to buy aluminum foil tape the other day to patch up the new speed holes in that one port o prince plane.
- I want to catch a glimpse.
I feel like it's probably better to have more competition in the space, but Spirit and Frontier are godawful.
- The problem is that they are awful, but consumers are very price sensitive when they buy tickets. You get what you pay for.
  
  We usually take a look at Spirit before booking flights, and with all of their add on fees it often ends up being more expensive.
That's the spirit!
- Spirit AeroSystems is not related to Spirit Airlines. Spirit AeroSystems is a Boeing contractor that makes fuselages.
  
  Ah, my mistake. Thanks
It was probably their malware infused website.

17 comments