Summary
Spirit Airlines has filed for Chapter 11 bankruptcy, citing mounting losses, debt, and the failure of its proposed $3.8 billion merger with JetBlue.
Operations, including ticket sales, will continue as normal, with the airline securing $300 million in financing and planning to exit bankruptcy by early 2025.
Spirit has also arranged a $350 million equity investment from bondholders.
Struggling since the pandemic, Spirit deferred $1.1 billion in debt, faced an engine recall, and announced cost-cutting measures, including job cuts and selling older planes.
Yeah, they were always great for me, likely do to shitty practices, but when it’s a 17 hour drive home, and it only costs $42 for a ticket. I can get their cheaply easily. Not enough room, throw in another 40 and have a bigger seat up front that’s reserved and not have to deal with that southwest BS of random seats. You can pay more, but I haven’t needed to pay over $70 for a ticket traveling the short distances I need to go in the past 5-7 years.
For those not from around here my trip distance would be a little farther than London to Berlin.
SW switched seating, this year I think, to be the same as other airlines. It’s not completely random anymore.
That’s good, when I flew to PHX for work earlier this year I specifically choose another airline even though they didn’t have points just to avoid that. Probably a good move for them