Chapter 11 - VibeWire Magazine

Spirit Airlines Exits Bankruptcy With $795 Million Debt Reduction & Fresh Funding

Spirit Airlines will have six new Board members, with only Ted Christie, the President and CEO, remaining on the Board.

The disgruntled shareholder accused that Spirit Airlines’ bankruptcy was an intentional move to benefit its executives.

Spirit Airlines disclosed that it had over $590 million of cash as of September 30.

Spirit Airlines will aim to become an airline of choice for more upmarket segments of passengers.

GOL said that it plans to exit Chapter 11 bankruptcy proceedings in late April 2025.

SAS has finally exited Chapter 11 bankruptcy proceedings and the subsequent company reorganization in Sweden.

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

Even though Chapter 11 refers to US law, numerous international airlines have filed for bankruptcy under this code in recent years.

The Brazilian airline entered Chapter 11 last month.

While the first tranch is set to be paid, the US judge wants more evidence before approving further funding.