Spirit Airlines has filed for Chapter 11 bankruptcy protection as it faces overwhelming debts, a failed merger, and declining sales. The situation has prompted CEO Ted Christie to outline a strategy for a 'comprehensive recapitalization,' which he believes will allow the airline to continue operations while working to improve its financial health.
In describing the current state of Spirit Airlines, CEO Ted Christie emphasized the need to strengthen the company's balance sheet, stating that they had already implemented plans to navigate through these challenging economic times while ensuring uninterrupted travel services.
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