Spirit Airlines Will Have Just 80 Planes To Repay $2 Billion In Debt [Yahoo! Finance]
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Source: Yahoo! Finance
It's fair to say that Spirit Airlines had a rough 2025 . The ultra-low-cost carrier filed for bankruptcy twice, with executives at rival airlines predicting its imminent demise. Spirit announced on Friday that it plans to emerge from Chapter 11 bankruptcy by this summer. There will be fewer canary yellow planes in the sky as Spirit shrinks its fleet from 214 aircraft down to 80 at most. While it's a success for the airline to reorganize, it's not out of the woods yet with rising fuel prices for the foreseeable future. Obviously, Spirit won't leave bankruptcy debt-free. The airline entered proceedings with $7.4 billion in debt and will emerge owing $2 billion. To turn its lemons into lemonade, Spirit is focusing its efforts on its strongest markets, Fort Lauderdale, Orlando, Detroit and New York City. The airline is also expanding premium seating options, adding a third row of its Big Front Seat. However, how far back in the cabin does it stop being the front? Read more: Chevy's 3
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