Overview
- Spirit submitted a restructuring support agreement and plan to the U.S. Bankruptcy Court in New York, projecting emergence from Chapter 11 by early summer.
- The carrier plans to operate 76–80 aircraft by the third quarter of 2026 after shrinking from 214 to 125 jets, with further cuts via lease rejections and an auction of about 20 owned aircraft seeking at least $530 million.
- Total debt and lease obligations are expected to fall to roughly $2 billion, compared with about $7.4 billion before the filing.
- The network will center on Fort Lauderdale, Orlando, Detroit, Newark and LaGuardia, with higher peak-day utilization and reduced off-peak flying.
- Management warns that fuel-price volatility could complicate the process, while customers can continue booking as the airline expands its Big Front Seat with a third row and targets renewed growth in 2027–2030.