Success American Stories
  • Investing
  • Latest News
  • Economy
No Result
View All Result
  • Investing
  • Latest News
  • Economy
No Result
View All Result
Success American Stories
No Result
View All Result
Home Economy

Spirit Airlines files for Chapter 11 bankruptcy protection for the second time in a year

admin by admin
August 31, 2025
in Economy
0
Spirit Airlines files for Chapter 11 bankruptcy protection for the second time in a year
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Spirit Airlines on Friday filed for bankruptcy protection, just months after the budget carrier failed to secure better financial footing when it came out of Chapter 11 protection in March.

The Dania Beach, Florida-based airline said under this bankruptcy, it will reduce its network and shrink its fleet, cuts that it said will reduce costs by “hundreds of millions of dollars” a year.

In a release, Spirit said guests can continue to book, travel and use tickets, credits and loyalty points. Wages and benefits will continue to be paid and honored, including contractors, it said. Spirit intends to pay vendors and suppliers for goods and services provided on or after the filing date in the ordinary course.

“Since emerging from our previous restructuring, which was targeted exclusively on reducing Spirit’s funded debt and raising equity capital, it has become clear that there is much more work to be done and many more tools are available to best position Spirit for the future,” Spirit CEO Dave Davis said in a news release on Friday.

Spirit had just gotten out of bankruptcy in March after four months, only to be dragged down by continued high costs and weaker U.S. domestic demand. The carrier had struggled for years as it dealt with a glut of U.S. flights, a Pratt & Whitney engine recall and a failed takeover by JetBlue Airways, a deal that was blocked in court.

Firms that used Spirit’s aircrafts had reached out to rival airlines in recent weeks to gauge executives’ interest in some of the carrier’s planes, according to people familiar with the matter.

Spirit is the United States’ largest budget airline, followed closely by rival Frontier Airlines which has tried and failed to merge with Spirit repeatedly since 2022. Frontier on Tuesday announced 20 new routes that compete with Spirit to win over its struggling competitor’s customers.

This post appeared first on NBC NEWS

Previous Post

Top 5 Canadian Mining Stocks This Week: Trifecta Shines with 117 Percent Gain

Next Post

Tech 5: NVIDIA Results Rattle Investors, Trump Signals More Tech Deals to Come

Next Post
Tech 5: NVIDIA Results Rattle Investors, Trump Signals More Tech Deals to Come

Tech 5: NVIDIA Results Rattle Investors, Trump Signals More Tech Deals to Come

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • Trending
    • Comments
    • Latest
    Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

    Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

    July 11, 2025
    Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

    Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

    August 10, 2025
    John Feneck: Gold, Silver, Platinum, Copper — 8 Stocks to Play These Metals

    John Feneck: Gold, Silver, Platinum, Copper — 8 Stocks to Play These Metals

    July 22, 2025
    Walker Lane Resources Ltd. Announces Closing of Private Placement

    Walker Lane Resources Ltd. Announces Closing of Private Placement

    July 24, 2025
    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    0
    Jordan evacuates sick and injured Palestinian children from Gaza

    Jordan evacuates sick and injured Palestinian children from Gaza

    0
    HHS brings back hundreds of staff following force reduction in latest rehiring move

    HHS brings back hundreds of staff following force reduction in latest rehiring move

    0
    Trump admin slams UK, Canada, Australia and others who sanctioned Israeli officials

    Trump admin slams UK, Canada, Australia and others who sanctioned Israeli officials

    0
    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    October 16, 2025
    LendingTree founder and CEO Doug Lebda dies in ATV accident

    LendingTree founder and CEO Doug Lebda dies in ATV accident

    October 16, 2025
    Prismo Metals

    Prismo Metals

    October 15, 2025
    Forte Minerals Appoints Patrick Evans as Non-Executive Chairman and Announces the Resignation of Long-Standing Director Doug Turnbull

    Forte Minerals Appoints Patrick Evans as Non-Executive Chairman and Announces the Resignation of Long-Standing Director Doug Turnbull

    October 14, 2025

    Top News

    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    October 16, 2025
    LendingTree founder and CEO Doug Lebda dies in ATV accident

    LendingTree founder and CEO Doug Lebda dies in ATV accident

    October 16, 2025

    Latest News

    • Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets
    • LendingTree founder and CEO Doug Lebda dies in ATV accident
    • Prismo Metals

    About Success American Stories

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 Successamericanstories.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Latest News
    • Economy

    Copyright © 2025 Successamericanstories.com. All Rights Reserved.