A Spirit Airlines Airbus A320 taxis at Los Angeles International Airport after arriving from Boston on September 1, 2024 in Los Angeles, California.WHITE PLAINS, N.Y. — Spirit Airlines is making "massive progress" to revitalize the airline, the carrier's restructuring lawyer Marshall Huebner said in a court hearing Tuesday.The struggling budget airline has reached an agreement with debtholders for up to $475 million in debtor-in-possession financing as well as $150 million from a major aircraft lessor, Hueb ...

Core Viewpoint - Spirit Airlines has filed for Chapter 11 bankruptcy again after a failed reorganization, aiming to ensure long-term success and continue serving customers [1][4][11] Group 1: Bankruptcy and Restructuring - The airline's President and CEO, Dave Davis, stated that the restructuring process is necessary for the company's long-term success [1][4] - Spirit Airlines first filed for bankruptcy in November after unsuccessful merger attempts with Frontier and JetBlue [1][4] - The company plans to sell planes and cut jobs as part of its restructuring efforts [9][11] Group 2: Market Conditions and Competition - Spirit Airlines has struggled to compete with major airlines that offer more services and fly to more destinations [4][5] - The airline is facing adverse market conditions, including weak demand for domestic leisure travel and a challenging pricing environment [10][11] - The company has attempted to rebrand itself as a more premium airline but has faced challenges due to budget cuts and economic uncertainty [5][10] Group 3: Customer Assurance - Spirit Airlines assured customers that operations would continue normally during the bankruptcy process, and tickets, credits, and loyalty points would remain valid [4][11] - The airline emphasized its commitment to providing safe journeys and excellent service despite the ongoing challenges [4][7]