{"id":51925,"date":"2024-11-15T19:04:56","date_gmt":"2024-11-16T00:04:56","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=51925"},"modified":"2024-11-15T19:05:07","modified_gmt":"2024-11-16T00:05:07","slug":"spirit-airlines-prepares-to-file-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2024\/11\/15\/spirit-airlines-prepares-to-file-for-bankruptcy\/","title":{"rendered":"Spirit Airlines prepares to file for bankruptcy"},"content":{"rendered":"\n

Distressed low-budget carrier Spirit Airlines is planning to file for Chapter 11 bankruptcy protection within weeks after a merger deal with rival Frontier Airlines collapsed and it struggles with massive debt coming due in 2025 and 2026, people familiar with the matter told Bloomberg.<\/p>\n\n\n

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Spirit raised a red flag signaling an impending bankruptcy filing when it released a statement on Nov. 12 that it could not file its 2024 third-quarter report on Securities and Exchange Commission Form 10-Q by its required deadline without unreasonable effort or expense.<\/p>\n\n\n\n

The Dania Beach, Fla.-based airline said it was having discussions with holders of about $1 billion in senior secured notes due in 2025 and about $500 million of unsecured convertible senior notes due in 2026. The company said it was also exploring strategic alternatives and ways to improve its liquidity.<\/p>\n\n\n\n

If Spirit reaches an agreement with its lenders, it would likely come in the form of a restructuring support agreement that would hand equity in the company to its lenders as part of a Chapter 11 bankruptcy filing, as the company indicated in its statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Distressed low-budget carrier Spirit Airlines is planning to file for Chapter 11 bankruptcy protection within weeks after a merger deal with rival Frontier Airlines collapsed and it struggles with massive debt coming due… <\/p>\n","protected":false},"author":2,"featured_media":51926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"4","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2,"attached_media":[{"id":51926,"url":"https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2024\/11\/Spirit-Airlines-prepares-to-file-for-bankruptcy-scaled.webp","type":"image\/webp"}]},"_wpas_customize_per_network":false},"categories":[4],"tags":[10343],"class_list":["post-51925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-spirit-airlines-prepares-to-file-for-bankruptcy"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/51925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=51925"}],"version-history":[{"count":1,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/51925\/revisions"}],"predecessor-version":[{"id":51927,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/51925\/revisions\/51927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/51926"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=51925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=51925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=51925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}