"Spirit Airlines on Friday filed for bankruptcy for the second time in a year. Its last Chapter 11 bankruptcy proceedings ended in March after slashing debt by nearly $800 million. The discount airline warned in early August that it may not survive the year."
"The discount airline on Friday filed for Chapter 11 protection after it failed to find itself on a more stable financial footing following bankruptcy proceedings, which began last November."
"Spirit warned in early August that it may not last the year, despite finalizing its last bankruptcy proceedings in March, Business Insider previously reported. Representatives for Spirit Airlines did not immediately respond to a request for comment from Business Insider. This is a developing story. Please check back for updates."
Spirit Airlines filed for Chapter 11 bankruptcy protection again on Friday, its second filing within a year. The prior Chapter 11 proceedings concluded in March after the airline reduced debt by nearly $800 million. The renewed filing followed failed efforts to achieve a more stable financial footing after bankruptcy proceedings began last November. Spirit issued an early-August warning that it might not survive the year. Representatives for Spirit Airlines did not immediately respond to requests for comment. The airline’s financial distress continued despite the earlier debt reduction, prompting the new Chapter 11 filing.
Read at Business Insider
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