Sakset fra Flight Global i dag ;
Spirit Airlines emerges from bankruptcy
Ultra-low-cost carrier Spirit Airlines has completed the Chapter 11 bankruptcy process, with chief executive Ted Christie pledging to focus on continued upgrades to the airline’s products.
Spirit said on 13 March that its restructuring plan has been approved by the US Bankruptcy Court for the Southern District of New York, and that it received “overwhelming support from a super majority” of the company’s stakeholders.
Las Vegas
Source: GingChen/Shutterstock
Christie will continue leading the company into its post-bankruptcy era, parent company Spirit Aviation Holdings confirms.
“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, he says. ”Despite the challenges we’ve faced as an organisation, we’re emerging as a stronger and more focused airline.”
In a series of moves mirrored by other low-cost carriers, Spirit has in recent months made an upmarket bid with new fare bundles and cabin classes, and has axed most add-on fees – previously a major source of revenue.
Spirit filed for bankruptcy in November following a series of poor quarterly performances, with airline analysts suggesting the ULCC had grown its fleet and network too aggressively over the past decade.
Earlier this month, Spirit reported losing more than $1.2 billion in 2024 as it cut passenger capacity across its network, furloughed hundreds of pilots and sold off more than 20 narrowbody Airbus jets.
That comes on the heels of the Florida-based ULCC’s $448 million loss in 2023, and a $554 million loss the year before.
”The increase in pre-tax loss was primarily driven by higher operating expenses,” said Spirit, which also cited high “reorganisation expenses” and reduced revenue for its 2024 troubles.
