Gulte News
US Spirit Airlines filed bankruptcy protection on Monday due to increased losses, unaffordable debt, and of course increased competition. Spirit makes it official atter the failed ti-up with Jet-Blue.
Major US airlines filed for bankruptcy earlier to get stronger financially. The largest airlines like American Airlines, United, and Delta filed for bankruptcy at some point in the past 25 years.
Spirit’s statement it its members read, ‘Spirit has entered into an agreement with our bondholders that is expected to reduce our total debt, provide increased financial flexibility, position Spirit for long-term success and accelerate investments providing Guests with enhanced travel experiences and greater value. Part of this financial restructuring includes filing a “prearranged” chapter 11.’
However, Spirit President CEO Ted Christie also mentioned that people can continue to book and fly now and in the future. They also want to ensure that, the tickets, credits, and loyalty points can be used as normal.
