Spirit Airlines' financial struggles have been exacerbated by the pandemic, resulting in significant debt and the inability to post profits since COVID. The failed JetBlue merger compounded their challenges, leading to serious restructuring discussions as they explore potential bankruptcy options.
"Before we get into the results, I want to note that we are engaged in productive conversations with the advisors of our bondholders to address the upcoming debt maturities," said CEO Ted Christie, indicating the airline's prioritization of the debt issue amid their financial distress.
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