"While outlining the sweeping restructuring measures it has undertaken since filing a second Chapter 11 bankruptcy petition in less than a year, the airline has acknowledged holding talks with would-be suitors. The discussions have come as management has engaged in an aggressive transformation of Spirit's route system, fleet, work force and passenger amenities, while taking stock of various assets that could be sold."
"But the Dania Beach-based budget airline, which filed for Chapter 11 bankruptcy protection on Aug. 29, endured a turbulent period of dueling courtships with Frontier Airlines and JetBlue Airways between 2022 and 2024. JetBlue outbid Frontier in 2023, only to have the transaction blocked by a federal judge in 2024. Before completing its first trip through Chapter 11 last year, Spirit considered and rejected another proposal from Frontier."
Spirit Airlines is pursuing a potential sale or merger while executing sweeping restructuring after a second Chapter 11 bankruptcy filing within a year. Spirit is engaged in discussions with interested counterparties and has not identified a suitor. The airline previously faced takeover attempts by Frontier and JetBlue, including a blocked JetBlue bid. Cost-cutting measures include furloughs of hundreds of pilots, up to 1,800 flight attendants, unspecified non-union support staff, planned closures of maintenance and warehousing operations, and a plan to reduce the fleet by nearly half.
Read at Sun Sentinel
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