Spirit Airlines Inc (SAVINGQ) has announced a new risk, in the Litigation & Legal Liabilities category.
Spirit Airlines Inc. faces significant business risks due to delays in their Chapter 11 bankruptcy proceedings, increasing the likelihood of a failed reorganization and increasing bankruptcy-related costs. Such delays can lead to negative publicity and strained relationships with creditors, employees, customers and other critical partners, worsening their operational and financial condition. In addition, the requirement for bankruptcy court approval for non-routine transactions hinders their ability to quickly address challenges or seize opportunities. Consequently, the uncertainty surrounding this procedure casts doubt on the company’s ability to continue as a going concern.
Overall, Wall Street is seeing strong selling consensus assessment on SAVEQ shares based on 4 sells and 1 hold.
For more information about Spirit Airlines Inc.’s risk factors. click here.