Spirit Airlines’ emergence out of its second bankruptcy in as many years is under pressure as jet fuel prices soar. On Feb. 24, just days before the war in Iran began, Spirit announced that it expected to exit Chapter 11 bankruptcy in the late spring or early summer, after striking a deal with its lenders…
“The group insolvency mechanism is expected to prioritize a coordinated process over blanket substantive consolidation. This approach should help synchronize proceedings for related companies under stress, protect overall business value, and prevent contradictory orders, while still maintaining the distinct legal identity and creditor interests of each entity,” explained Anoop Rawat, national practice head, insolvency &…
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