Spirit Airlines receives approval from US Bankruptcy Court for first day motions
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Background ✨
Spirit Airlines filed for Chapter 11 restructuring, working with secured noteholders to explore potential financing and implementing a strategy to focus on key markets, reduce its fleet, and lower debt and lease obligations. CEO Dave Davis stated the court-supervised process was chosen after evaluating options amid ongoing market pressures, with plans to continue normal operations during restructuring, including paying wages and maintaining services1.