Feed: Slashdot
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Title: Spirit Airlines Files For Bankruptcy

Link: https://tech.slashdot.org/story/24/11/19/1458...

Spirit Airlines has filed for bankruptcy protection and will attempt to
reboot as it struggles to recover from the pandemic-caused swoon in travel,
stiffer competition from bigger carriers, and a failed attempt to sell the
airline to JetBlue. From a report: Spirit, the biggest U.S. budget airline,
filed a Chapter 11 bankruptcy petition after working out terms with
bondholders. The airline has lost more than $2.5 billion since the start of
2020 and faces looming debt payments totaling more than $1 billion in 2025
and 2026. The airline said it expects to continue operating normally during
the bankruptcy process. Spirit told customers Monday they can book flights
and use frequent-flyer points as they ordinarily would, and said employees
and vendors would continue getting paid.

Read more of this story at Slashdot.

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