Spirit Airlines files Chapter 11 restructuring with US Bankruptcy Court
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Background ✨
Spirit Airlines’ Chapter 11 filing followed persistent financial pressures, including doubts about its ability to meet liquidity covenants and continue as a going concern. The airline explored measures such as asset sales, cost reductions and stakeholder discussions to enhance liquidity, but management cited "substantial doubt" over its future viability, driven by weak financial results and challenging market conditions1 2.