Chapter 11 Bankruptcy - VibeWire Magazine

Struggling Spirit Doubtful Of Its Ability To Survive

Will this low-cost carrier’s bright yellow planes disappear from the skies?

The news comes as the airline filed for Chapter 11 bankruptcy protection for the second time this year.

The airline aims to build a stronger foundation and future through its restructuring process.

With weak demand and dwindling cash reserves, can this airline turn its fortunes around?

The Bankruptcy Trustee overseeing Silver Airways and Seaborne Virgin Islands, Inc. believes there is no financial way to right both entities.

The Bankruptcy Trustee overseeing Silver Airways and Seaborne Virgin Islands, Inc. believes there is no financial way to right both entities.

The Bankruptcy Trustee overseeing Silver Airways and Seaborne Virgin Islands, Inc. believes there is no financial way to right both entities.

Spirit’s bondholders will assume control under the go-private deal.

The airline expects to complete the process by the first quarter of 2025.

The airline entered Chapter 11 bankruptcy earlier this year and has a five-year restructuring plan.