Spirit Airlines, Inc. revealed on Wednesday in a statement that it managed to exit the Chapter 11 bankruptcy "significantly delevraged" and with "greater financial flexibility.""We're pleased to complete our streamlined restructuring and emerge in a stronger financial position to continue our...
Spirit Airlines, Inc. on Wednesday rejected a merger proposal by rival Frontier Group Holdings, Inc., stressing that it would not be beneficial to its stakeholders.In a regulatory filing, Spirit explained that under the proposal, its stakeholders would receive $400 million in debt and 19% share in...
Frontier Airlines, Inc.'s parent company Frontier Group Holdings, Inc. confirmed on Wednesday that it made "a compelling proposal" to merge with Spirit Airlines, Inc., which filed for bankruptcy protection back in November. The company said that the proposed transaction would bring significant value...
Spirit Airlines Inc. announced on Monday that it has filed for bankruptcy protection as part of a restructuring agreement with bondholders aimed at reducing its debt burden and enhancing financial stability.The agreement includes a $350 million equity investment and $300 million in...
The shares of Spirit Airlines Inc. plummeted by more than 60% on Wednesday after a potential merger with Frontier Airlines fell through, leading the company to prepare to file for bankruptcy, according to the Wall Street Journal.The American airline was previously reported to be nearing a deal to...
The shares of Spirit Airlines, Inc. popped in the premarket on Wednesday as traders assessed the latest report regarding the firm's negotiations with Frontier Airlines.Earlier, sources told The Wall Street Journal that Frontier was in talks with Spirit yet again over a potential merger. Nonetheless, it was...
Shares of Spirit Airlines, Inc. plunged by 37% during the trading session on Friday following the reports of a possible bankruptcy filing.Namely, the Wall Street Journal reported, citing people with knowledge of the matter, that the carrier held talks with bondholders regarding the terms of a possible...
Spirit Airlines, Inc. announced on Monday that it has appointed Brian McMenamy as the interim Chief Financial Officer (CFO), effective June 14.According to a press release, McMenamy will replace Scott Haralson, "who is departing to become CFO of a larger, publicly traded company outside of the airline...
Spirit Airlines, Inc. revealed on Friday in a filing that it entered into an agreement with International Aero Engines, LLC ("AE), an affiliate of Pratt & Whitney, over the issues caused by the latter's faulty engines.
Spirit previously had to remove the engines in question from service, while also...
JetBlue Airways Corp. said on Monday in a statement that it officially decided to terminate the takeover bid of Spirit Airlines, Inc., worth $3.8 billion.
"Although both companies continue to believe in the procompetitive benefits of the combination, JetBlue and Spirit mutually agreed that...
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