Pêncşem, Adar 13, 2025
Spirit Aviation Holdings, Inc., the parent company of Spirit Airlines, LLC, has successfully completed its financial restructuring, emerging stronger and more financially flexible. The company has significantly reduced its debt by approximately $795 million through a consensual, deleveraging transaction. This transformation positions Spirit Airlines for long-term success with a solid foundation for future growth.
As part of the restructuring process, Spirit has secured a $350 million equity investment from existing investors to fund future initiatives aimed at enhancing guest experiences and delivering more value. Spirit’s Plan of Reorganization was approved by the United States Bankruptcy Court for the Southern District of New York, with strong backing from a supermajority of the company’s loyalty and convertible noteholders.
“We’re pleased to complete our streamlined restructuring and emerge in a stronger financial position to continue our transformation and investments in the Guest experience,” said Mr. Christie. “Throughout this process, we’ve continued to make meaningful progress enhancing our product offerings, while also focusing on returning to profitability and positioning our airline for long-term success. Today, we’re moving forward with our strategy to redefine low-fare travel with our new, high-value travel options.”
Ted Christie will continue to lead Spirit as President and Chief Executive Officer, supported by the company’s current executive team. Additionally, Spirit’s restructured Board of Directors will include six new members with substantial industry and financial expertise: Robert A. Milton, David N. Siegel, Timothy Bernlohr, Eugene I. Davis, Andrea F. Newman, and Radha Tilton.
Mr. Christie continued: “I’m incredibly proud of our Team Members for their continued dedication to our Guests and each other throughout this process. Despite the challenges we’ve faced as an organization, we’re emerging as a stronger and more focused airline. On behalf of the executive team, I would also like to thank our outgoing board members for their contributions and invaluable service to our airline.”
Following the restructuring, Spirit Airlines, Inc.’s previous common stock has been canceled, with newly issued shares now held by Spirit’s new owners. These shares are expected to begin trading in the over-the-counter market, with plans for a relisting on a stock exchange as soon as possible after the Plan of Reorganization becomes effective.
Tags: News Airline, Nûyork, Airlines Ruhê, Spirit Aviation, Nûçeyên Rêwîtiyê, Dadgeha îflasê ya Dewletên Yekbûyî
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