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That came after Spirit's October announcement that it planned to furlough hundreds of pilots and raise just over $500 million by selling about 10% of its planes.
Meanwhile, the airline's balance sheet is bogged down by roughly $7 billion in long-term debt and lease obligations. Relief of $225 million isn't going to make a dent in that burden.
Spirit in February posted a net loss of almost $450 million for 2023. That compared to a year-earlier deficit of some $554 million. Deferred deliveries will boost Spirit's liquidity
Date Bankruptcy filed National Florida Airlines [3] December 1, 1983 Excellair July 7, 1984 Oceanaire Lines February 10, 1984 Connectaire October 10, 1984 Princeton Air Link: August 11, 1988 Air Kentucky: July 19, 1989 Eastern Air Lines: January 18, 1991 Northcoast Executive: January 29, 1991 Midway Airlines (1976-1991) November 27, 1991 L ...
Spirit operates scheduled flights throughout the United States, the Caribbean, and Latin America. Spirit was the seventh largest passenger carrier in North America as of 2023, as well as the largest ultra-low-cost carrier in North America. Spirit filed for Chapter 11 bankruptcy in November 2024.
On 16 July 2020, the airline simultaneously retired all of the Boeing 747-400 fleet bring the retirement date from the original retirement date of 2024. [100] It also ceased an all-business class service between London City Airport and John F. Kennedy Airport and consequently retired an Airbus A318 fleet used on that route. In October 2020 ...
Spirit has already been making cuts throughout the year, including signing a deal in October to sell 23 planes to GA Telesis for $519m and furloughing hundreds of pilots. The Independent has ...
Spirit Airlines has filed for Chapter 11 bankruptcy protection following significant financial struggles due to mounting losses and debt maturities, the airline announced Monday.