After bankruptcy court, Spirit sees future as a higher value airline 'for years to come'

Fred Cromer, Spirit's CFO, expressed an optimistic outlook during the bankruptcy proceedings, emphasizing the airline's intent to continue providing low-cost services to loyal customers.

Spirit Airlines has entered Chapter 11 with a strategy to significantly reduce its debt by restructuring and has secured a $300 million loan to support its operations.

U.S. Bankruptcy Judge Sean H. Lane and the creditors committee will oversee Spirit during its restructuring, marking a critical shift in the airline's operational control.

The situation led to Spirit's stock getting delisted from the NYSE, with existing shareholders facing the cancellation of their shares as the airline restructures.

Read at Sun Sentinel