Spirit Airlines Bankruptcy

[TC Talks]

I'm Shocked! Shocked I tell ya!

The company filed for Chapter 11 bankruptcy protection in New York. It also announced an agreement with bondholders to restructure its debts and raise money to help it operate during the bankruptcy process, which it expected to exit in the first quarter of next year.

Spirit, which has lost more than $2.2 billion since the start of 2020, published an open letter to customers saying that fliers could “use all tickets, credits and loyalty points as normal.”

Ted Christie, the airline’s chief executive, said in a statement that the arrangements announced on Monday represented a “a strong vote of confidence in Spirit and our long-term plan.”

The airline said in a court filing that it had 25,000 to 50,000 creditors, with total debt of about $9 billion and only slightly more in assets at end of September. It said its shares would be delisted from the New York Stock Exchange. Spirit’s stock had fallen more than 90 percent since the start of the year.

[MWmetalhead]

The Feds fucked them and their shareholders over when they blocked the proposed merger between Spirit and JetBlue on antitrust grounds earlier this year. It was a ridiculous decision.

[ftballfan]

Most of the big US airlines have gone through Chapter 11 at least once in the past

[Turkeytop]

I'm Shocked! Shocked I tell ya!

The company filed for Chapter 11 bankruptcy protection in New York. It also announced an agreement with bondholders to restructure its debts and raise money to help it operate during the bankruptcy process, which it expected to exit in the first quarter of next year.

Spirit, which has lost more than $2.2 billion since the start of 2020, published an open letter to customers saying that fliers could “use all tickets, credits and loyalty points as normal.”

Ted Christie, the airline’s chief executive, said in a statement that the arrangements announced on Monday represented a “a strong vote of confidence in Spirit and our long-term plan.”

The airline said in a court filing that it had 25,000 to 50,000 creditors, with total debt of about $9 billion and only slightly more in assets at end of September. It said its shares would be delisted from the New York Stock Exchange. Spirit’s stock had fallen more than 90 percent since the start of the year.

Best news I've heard all year.

[CD 94.7]

I'm Shocked! Shocked I tell ya!

The company filed for Chapter 11 bankruptcy protection in New York. It also announced an agreement with bondholders to restructure its debts and raise money to help it operate during the bankruptcy process, which it expected to exit in the first quarter of next year.

Spirit, which has lost more than $2.2 billion since the start of 2020, published an open letter to customers saying that fliers could “use all tickets, credits and loyalty points as normal.”

Ted Christie, the airline’s chief executive, said in a statement that the arrangements announced on Monday represented a “a strong vote of confidence in Spirit and our long-term plan.”

The airline said in a court filing that it had 25,000 to 50,000 creditors, with total debt of about $9 billion and only slightly more in assets at end of September. It said its shares would be delisted from the New York Stock Exchange. Spirit’s stock had fallen more than 90 percent since the start of the year.

Best news I've heard all year.

AGREED! horrible horrible company

[CD 94.7]

[MotorCityRadioFreak]

Spirit was one of the first airlines to send their call center jobs overseas 20 years ago. Don’t let the door hit ya in the ass, Spirit.

[Chrocket87]

I’d rather drive than fly Spirit.

[Matt]

I’d rather drive than fly Spirit.

I'd rather walk than fly spirit.

[Rate This]

I’d rather drive than fly Spirit.

I'd rather walk than fly spirit.

One benefit… flight attendants. Even spirit has decent flight attendants. Fortunately I get to watch them wait to go to the hotel… I don’t have to subject myself to flying Spirit.

[ZenithCKLW]

I avoid Spirit when I can. In 2019, I visited my parents on a vacation in Florida on a whim, and Spirit was available. Unfortunately, the flight back was a late Sunday flight... at the conclusion of spring break week. I hate flying as it is as my head always feels like it's in a vise - but it was like riding a pressurized, loud school bus for almost 3 hours.

The most recent flight was one of those "I gotta get the F outta town right this minute or I'm gonna blow my head off" types of vacations. There was a medical emergency on board, and the lead flight attendant kept repeating on the PA for nobody to panic. Tell people on an airplane not to panic, and guess what happens.

[Turkeytop]

We flew Spirit once. The flight attendants, instead of serving the passengers, went up and down the aisle trying to sell the passengers on Insurance Policies, credit cards etc.

[Long time lurker]

Spirit is bad, Frontier is worse. We flew Spirit from Detroit to Vegas and it was the most painful flight I have ever been on. I had the human version of a Chrysler Crown Imperial sitting next to me and his girth was immense. I really do not understand how they didn't make this guy get two tickets. If you are over 400 lbs, it shouldn't even be an option to have a single seat. But he was sweating through his shirt and I got a rash from his gravy soaking into my skin. Flew Spirit down to Orlando on my first flight. It wasn't so bad, just uncomfortable. They seemed to have gotten worse from the early 00's to the present. I had to do an urgent trip to Vegas for business and there weren't any flights back on Delta or American, so I had to do Spirit home. I upgraded to the big front seat, and ngl, that was actually pretty comfortable! The flight attendant guy who was doing most of the speaking was super obnoxious though. He thought he was funny. Oh, and we had to sit on the plane for over an hour before take-off. I had plans for later in the day when I got back, but I couldn't make them because of the wait. We did fly Frontier to Vegas a while back, and it was literally like sitting on lawn chairs for four hours.

Literally the only way to fly in the US is Delta first class. They just jam people together when you fly coach, and the seats keep shrinking while the ass of the average american keeps growing. Its impossible and gross.

[TC Talks]

Literally the only way to fly in the US is Delta first class. They just jam people together when you fly coach, and the seats keep shrinking while the ass of the average american keeps growing. Its impossible and gross.

I disagree, going PJ is much better.

[Rate This]

Fun fact I didn’t know… Spirit was originally Charter One Airlines and based out of Detroit. They changed the name to Spirit in 1992 and began running Detroit to Newark.

So while it’s based in Florida now it was a Michigan company once. They moved in 1999.