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 announced a prearranged deal with its bondholders including $300 million in debtor-in-possession financing. It said that vendors, aircraft lessors will not be impaired.The airline said it expects to continue operating normally "throughout this prearranged, streamlined chapter 11 process" and s ...

Flights, Ticket Sales, Reservations and All Other Operations Continue as NormalRestructuring Support Agreement Already Signed by a Supermajority of Spirit's Bondholders Voluntary Prearranged Chapter 11 Proceedings Commenced to Implement the Agreed Deleveraging and Recapitalization Transactions Receives Backstopped Commitments for $350 Million Equity Investment and $300 Million in Debtor-in-Possession Financing from Existing Bondholders; Vendors, Aircraft Lessors and Holders of Secured Aircraft Indebtedness ...

DANIA BEACH, Fla., Nov. 18, 2024 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today issued the following open letter to all Spirit Guests: We are writing to let you know about a proactive step Spirit has taken to position the company for success. Spirit has entered into an agreement with our bondholders that is expected to reduce our total debt, provide increased financial flexibility, position Spirit for long-term success and accelerate investments providing Guests with en ...

Just like airplanes take off and land, shares of Spirit Airlines (SAVE -18.18%) have taken shareholders on a ride. Only in this instance, there has been ridiculous amounts of turbulence on the journey.The business has made for a terrible investment. This airline stock currently trades 98% off its all-time high, a milestone that was achieved nearly 10 years ago. At this beaten-down level, is it time to buy Spirit Airlines?Up and downThings briefly reversed course recently. From Oct. 18 to Nov. 11, shares of ...

Spirit Airlines, Inc. SAVE shares are trading lower Wednesday. Investors are concerned. The company failed to file its earnings report and said it is in talks with its creditors to develop a restructuring plan.Despite this, there is a chance the stock may be about to head higher. This is why it is our Stock of the Day.What Happened: In the second quarter, the company lost $1.76 per share. In the first quarter, it reported a loss of $1.36 per share. This information can be found on Benzinga Pro.Some traders ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): November 13, 2024 (November 12, 2024) SPIRIT AIRLINES, INC. (Exact name of registrant as specified in its charter) | --- | |--------------------------------------------------------| | | | | | Delaware | | (State or other jurisdiction of incorporation) | | --- | --- | |-------------------------- ...

ToplineSpirit Airlines shares cratered sharply in after-market trading on Tuesday evening, as the company announced it was in talks with creditors to restructure its debts in a deal—shortly after the Wall Street Journal reported the company is preparing to file for bankruptcy protection and its planned merger with rival low-cost carrier Frontier had broken down.Spirit Airlines is reportedly on the verge of filing for Chapter 11 Bankruptcy protection after ... [+] plans for a merger with rival Frontier fell ...

DANIA BEACH, Fla., Nov. 12, 2024 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced that it had filed a Form 12b-25 with the Securities and Exchange Commission that is expected to be available on the SEC's EDGAR filing system on Wednesday, November 13, 2024, prior to the opening of the market session. That form will contain the following disclosure:The Company is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the "Q3 202 ...

The Federal Aviation Administration on Tuesday banned U.S. civilian flights to and from Haiti for 30 days after a Spirit Airlines airplane was struck by gunfire trying to land in Port-au-Prince a day earlier.The FAA's ban also prohibits U.S. flights from traveling under 10,000 feet in Haiti's airspace.On Monday, Spirit Airlines Flight 951 from Fort Lauderdale, Florida, diverted to Santiago in the Dominican Republic at around 11:30 a.m. after it was damaged by gunfire, the airline said. Spirit said one fligh ...