PORTLAND, Ore. – Spirit Airlines is currently working to restructure its debt as financial losses continue to mount. Despite strong travel demand, the airline has been losing money due to higher operating costs.
The airline has been attempting to renegotiate at least $1.1 billion in debt payments. This effort follows a failed attempt to sell the airline to JetBlue.
Spirit Airlines has secured a prearranged deal with bondholders that includes $300 million in financing. This deal aims to help keep the company operational, with plans to exit bankruptcy in the first quarter of 2025.
Spirit Airlines stated that passengers should not expect changes during the bankruptcy process. Most flights will remain the same, ensuring minimal disruption for travelers.
For those in the area, the closest Spirit Airlines flights are available from Portland.
