Spirit Airlines Reaches New Deal, Expects to Emerge From Bankruptcy as Early as Spring

A Spirit Airlines plane takes off at Los Angeles International Airport on June 1, 2023. Mario Tama/Getty ImagesAfter teetering on bankruptcy filings dating back to November 2024, Spirit Aviation Holdings, Inc., the parent company of Spirit Airlines LLC, has announced it completed another significant milestone for its restructuring plans.In a Feb. 24 statement, the financially embattled airline said it reached an accord in principle on the key terms of a restructuring support agreement with its existing debtor-in-possession lenders and secured noteholders. This agreement will give Spirit the financial support it needs to finalize its restructuring and complete the remaining changes needed to optimize its fleet, network, and cost structure.