Top Posts
Scammers target retirees as major 401(k) rule changes...
Senate GOP divided as millions risk losing food...
‘Unprecedented’ antisemitism panel tackles surging national issue
House conservatives to lead prayer for end to...
GOP senators push for Charlie Kirk statue in...
Corcel Announces Non-Brokered Private Placement
Sankamap Announces Airborne Geophysical Survey Results Highlighting Promising...
SAGA Metals Mobilizes Final Team for Major Drill...
Crypto Market Update: 21Shares Files for Hype ETF,...
Almonty Acquires Montana Tungsten Project as US Seeks...
  • Home
  • Investing
  • Politics
  • Economy
  • World News
Money Assets Saver
Economy

Spirit Airlines files for Chapter 11 bankruptcy protection for the second time in a year

by admin August 30, 2025
August 30, 2025

Spirit Airlines on Friday filed for bankruptcy protection, just months after the budget carrier failed to secure better financial footing when it came out of Chapter 11 protection in March.

The Dania Beach, Florida-based airline said under this bankruptcy, it will reduce its network and shrink its fleet, cuts that it said will reduce costs by “hundreds of millions of dollars” a year.

In a release, Spirit said guests can continue to book, travel and use tickets, credits and loyalty points. Wages and benefits will continue to be paid and honored, including contractors, it said. Spirit intends to pay vendors and suppliers for goods and services provided on or after the filing date in the ordinary course.

“Since emerging from our previous restructuring, which was targeted exclusively on reducing Spirit’s funded debt and raising equity capital, it has become clear that there is much more work to be done and many more tools are available to best position Spirit for the future,” Spirit CEO Dave Davis said in a news release on Friday.

Spirit had just gotten out of bankruptcy in March after four months, only to be dragged down by continued high costs and weaker U.S. domestic demand. The carrier had struggled for years as it dealt with a glut of U.S. flights, a Pratt & Whitney engine recall and a failed takeover by JetBlue Airways, a deal that was blocked in court.

Firms that used Spirit’s aircrafts had reached out to rival airlines in recent weeks to gauge executives’ interest in some of the carrier’s planes, according to people familiar with the matter.

Spirit is the United States’ largest budget airline, followed closely by rival Frontier Airlines which has tried and failed to merge with Spirit repeatedly since 2022. Frontier on Tuesday announced 20 new routes that compete with Spirit to win over its struggling competitor’s customers.

This post appeared first on NBC NEWS

previous post
Trump revokes Kamala Harris’ Secret Service protection, spokesperson says
next post
Retail panic: What the end of the ‘de minimis’ exemption means for brands across the globe

You may also like

Barbie, Monopoly toymakers see bright holiday season despite...

October 29, 2025

Target is eliminating 1,800 corporate jobs as it...

October 25, 2025

X-ray tables, hidden cameras: The tech in rigged...

October 24, 2025

Travis Kelce part of investor group aiming to...

October 24, 2025

Trump’s Argentina beef import plan will harm U.S....

October 24, 2025

Customers sue sneaker company On over shoes that...

October 20, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 18, 2025

LendingTree founder and CEO Doug Lebda dies in...

October 15, 2025

UPS is ‘disposing of’ U.S.-bound packages over customs...

October 13, 2025

China outlines more controls on exports of rare...

October 11, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Scammers target retirees as major 401(k) rule changes loom for 2026 tax year ahead nationwide

      October 29, 2025
    • Senate GOP divided as millions risk losing food aid in shutdown standoff

      October 29, 2025
    • ‘Unprecedented’ antisemitism panel tackles surging national issue

      October 29, 2025
    • House conservatives to lead prayer for end to political violence, government shutdown

      October 29, 2025
    • GOP senators push for Charlie Kirk statue in Trump’s National Garden of American Heroes

      October 29, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 moneyassetssaver.com | All Rights Reserved

    Money Assets Saver
    • Investing
    • Politics
    • Economy
    • World News