Spirit Airlines' Strategic Restructuring Success

Spirit Airlines, Inc. has successfully exited Chapter 11 bankruptcy, announcing a significant deleveraging and enhanced financial flexibility. This strategic move positions the airline to continue its transformation and invest in improving the guest experience.

CEO Ted Christie on the Airline's Future

"We're thrilled to complete our streamlined restructuring and emerge in a stronger financial position to continue our transformation and investments in the Guest experience. Our focus on enhancing product offerings and returning to profitability has been unwavering," stated CEO Ted Christie. He emphasized the airline's commitment to redefining low-fare travel with new, high-value travel options.

Board Reconstitution and Stock Market Plans

The company's Board of Directors has been reconstituted, now including CEO Ted Christie and six additional directors. Despite the cancellation of Spirit's common stock, the airline anticipates its newly issued shares will trade over-the-counter, with plans to re-list on a stock exchange as soon as feasible.