Spirit Airlines ( (SAVE) ) shared an announcement.
Spirit is seeking to amend the bankruptcy provisions in its 8.00% Senior Secured Notes due 2025, with the aim of streamlining the restructuring process through a consent petition. With more than 78% of bondholders supporting the changes, Spirit plans to initiate Chapter 11 proceedings in New York. This restructuring aims to address the financial challenges while managing the potential risks inherent in the bankruptcy process, including liquidity issues and the impact on stakeholders.
For detailed information on SAVE shares, visit TipRanks’ Stock Analysis Page.
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