Spirit Airlines, which has several routes in and out of Florida, has filed for bankruptcy.
The company’s announcement early Monday, November 18 was quickly followed by this statement to ease travel concerns, especially with Thanksgiving approaching next week:
“Spirit expects to continue operations as normal during this prearranged, streamlined Chapter 11 process,” Michael Lopardi, media relations manager, said in an email.
Here’s what you need to know.
Spirit Airlines files for bankruptcy, begins ‘restructuring’
“Spirit Airlines just announced that it has entered into a restructuring support agreement to reduce the company’s debt, provide greater financial flexibility and position Spirit for long-term success,” Lopardi said.
In an open letter on its website, Spirit said it was taking this “proactive step” to “position the company for success.”
“Spirit has entered into an agreement with our bondholders that is expected to reduce our overall debt, provide greater financial flexibility, position Spirit for long-term success and accelerate investments, providing guests with better travel experiences and greater value. Part of this financial restructuring includes filing a ‘prearranged’ Chapter 11.”
As a result of the Chapter 11 filing, Spirit expects to be delisted from the New York Stock Exchange in the near future.
How long will it take Spirit to restructure?
“We expect to complete this process in the first quarter of 2025 and be even better positioned to deliver the best value in the sky,” the company said on its website.
“This series of transactions will significantly strengthen our balance sheet and position Spirit for the future as we continue to execute our strategic initiatives to transform our guest experience, delivering new, enhanced travel options, greater value and greater flexibility,” said Ted Christie , president of Spirit. and general manager.
“I am extremely proud of the Spirit team’s hard work and dedication, which is essential to our continued progress in advancing our business and delivering services to our guests.”
Flying ghost? You can use that ticket to book new flights
“Guests can continue to book and fly without interruption,” Lopardi said.
The company said flights, ticketing, reservations and all other activities will continue as normal during this period.
Spirit Airlines Florida Locations
Spirit’s main hub is Fort Lauderdale, FLL, but also operates from:
Are you losing your Spirit loyalty points?
No.
“Guests can continue to book and fly without interruption and can use all tickets, credits and loyalty points as normal.”
The merger between Spirit Airlines and JetBlue fails
Earlier this year, a $3.8 billion merger attempt with JetBlue Airways failed.
In October, Spirit told Reuters it would lay off about 330 pilots by Jan. 31, 2025, as part of its cost-cutting efforts.
Spirit flight from Florida hit by gunfire in Haiti
Earlier in November, a Spirit Airlines flight from Fort Lauderdale was hit by gunfire as it attempted to land at Toussaint Louverture International Airport in Port-au-Prince, Haiti.
One crew member was injured. The aircraft was safely diverted to Santiago, Dominican Republic.
Planes from two other US airlines, JetBlue and an American Airlines en route to Miami from Haiti, were also hit by gunfire around Toussaint Louverture International Airport the same day.
The Federal Aviation Administration issued a notice on Nov. 12 banning U.S. airlines and other civilian aircraft from operating below 10,000 feet in Haitian airspace for 30 days.
Contributor: Zach Wichter, USA Today
This article originally appeared on Palm Beach Post: Spirit Airlines bankruptcy, Florida airports
