Despite filing for Chapter 11 bankruptcy, Spirit Airlines reassured customers that all flights will continue to operate as scheduled, emphasizing no need for travelers to panic.
The airline has announced it will work under court supervision to restructure its debts, having incurred significant losses since 2019 due to various operational challenges.
Spirit Airlines stated its expectation to exit bankruptcy by the first quarter of next year, aiming to be in a better position post-restructuring.
With a total debt of approximately $9 billion and thousands of creditors, Spirit plans to use the Chapter 11 process to legally restructure and cut costs.
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