Spirit Airlines Bankruptcy: Budget Carrier Charts Course for Survival

Miramar, Monday, 18 November 2024.
In a dramatic turn for U.S. aviation, Spirit Airlines filed for Chapter 11 bankruptcy on November 18, 2024, after accumulating $2.2 billion in losses since 2020. Despite the filing, the airline secured $650 million in new financing and plans to continue operations while restructuring its $9 billion debt, marking the first major U.S. airline bankruptcy since 2011. The collapse follows a blocked JetBlue merger and signals broader challenges in the ultra-low-cost carrier market.