Summary
Spirit Airlines has filed for Chapter 11 bankruptcy, citing mounting losses, debt, and the failure of its proposed $3.8 billion merger with JetBlue.
Operations, including ticket sales, will continue as normal, with the airline securing $300 million in financing and planning to exit bankruptcy by early 2025.
Spirit has also arranged a $350 million equity investment from bondholders.
Struggling since the pandemic, Spirit deferred $1.1 billion in debt, faced an engine recall, and announced cost-cutting measures, including job cuts and selling older planes.
That’s the spirit!
‘Brand known for how terrible it is files for bankruptcy’
How surprising.
It’s almost like the “better” airlines already know how much you can shit on the customer base and survive. Pretty much everybody I know who has ever taken a Spirit flight has told me they never want to do it again.
I’m in the minority. I love Spirit. I don’t appreciate the dark patterns when purchasing tickets, but that’s it.
This is only for “short” domestic flights, <4 hours.
Yeah, they were always great for me, likely do to shitty practices, but when it’s a 17 hour drive home, and it only costs $42 for a ticket. I can get their cheaply easily. Not enough room, throw in another 40 and have a bigger seat up front that’s reserved and not have to deal with that southwest BS of random seats. You can pay more, but I haven’t needed to pay over $70 for a ticket traveling the short distances I need to go in the past 5-7 years.
For those not from around here my trip distance would be a little farther than London to Berlin.
SW switched seating, this year I think, to be the same as other airlines. It’s not completely random anymore.
That’s good, when I flew to PHX for work earlier this year I specifically choose another airline even though they didn’t have points just to avoid that. Probably a good move for them
Spirit isn’t that bad, as long as you know what you’re getting into. Frontier, on the other hand…
I feel like it’s probably better to have more competition in the space, but Spirit and Frontier are godawful.
The problem is that they are awful, but consumers are very price sensitive when they buy tickets. You get what you pay for.
We usually take a look at Spirit before booking flights, and with all of their add on fees it often ends up being more expensive.
Yeah, but a lot of that comes from the legacy airlines in the US becoming low cost carriers.
I won’t be surprised when it happens to the EU when more flag carriers go bankrupt.
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Spirit AeroSystems is not related to Spirit Airlines. Spirit AeroSystems is a Boeing contractor that makes fuselages.
Ah, my mistake. Thanks
It was probably their malware infused website.
