Spirit Airlines’ parent company says it expects to exit Chapter 11 bankruptcy in the late spring or early summer, after striking a preliminary deal with its lenders and secured creditors that provides the support needed to finish its restructuring.
The early-stage agreement would help Spirit finalize changes to its fleet, route network and cost structure as it works toward emerging as “a new Spirit” — a smaller, leaner carrier still focused on offering low fares but with more options like premium economy and its version of first-class seating with more legroom.