November 18, 20240 Comments

No-frills US carrier Spirit Airlines files for bankruptcy protection

US budget carrier Spirit Airlines has filed for bankruptcy protection after a long run of financial losses and a series of failed merger attempts. On Monday, the Florida-based airline said it had arranged an agreement to restructure its debt and raise money during a bankruptcy process that is expected to last until early 2025. During that time, Spirit’s operations will continue as normal and passengers will be unaffected, it said.

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November 18, 20240 Comments

Spirit Airlines files for bankruptcy protection after mounting losses

Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines, an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger and more demanding consumer tastes. The carrier early Monday said it reached a prearranged deal with its bondholders

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November 18, 20240 Comments

Spirit Airlines files for bankruptcy protection By Reuters

(Reuters) -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. The airline’s woes deepened after the collapse of its $3.8 billion planned merger with JetBlue Airways (NASDAQ:) in January and the impact of RTX’s Pratt & Whitney Geared Turbofan (GTF) engines snag that has grounded many of its

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