18Nov, 24 Spirit Airlines eyes Q1 exit after filing for ‘streamlined’ Chapter 11 restructuring | News
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Struggling US budget carrier Spirit Airlines has filed for a pre-arranged Chapter 11 restructuring process, from which it hopes to emerge in the first quarter of next year having already secured investment commitments from existing bondholders.
Spirit says it will continue to operate as normal during what it calls a “streamlined” Chapter 11 process.
The airline’s chief executive Ted Christie says: ”I am pleased we have reached an agreement with a supermajority of both our loyalty and convertible bondholders on a comprehensive …