CEO Ted Christie confirmed in August that Spirit was in discussions with bondholders about upcoming debt maturities, emphasizing the priority of negotiating the best possible deal quickly.
People are still flying on Spirit Airlines. They're just not paying as much. In the first six months of this year, Spirit passengers flew 2% more than last year, but their fares per mile have decreased.
Spirit's costs, especially for labor, have risen significantly, and competition from larger airlines offering bare-bones tickets has eroded Spirit's customer base.
Despite operating as usual amid bankruptcy, Spirit's stock has plummeted by 97% since late 2018 due to increasing financial struggles and slumping revenues.
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