Spirit Airlines is dealing with a financial mess and is now filing for Chapter 11 Bankruptcy Protection.
The low-cost carrier owes millions, and the hope is that limiting debt will help the airline soar into the future.
The CEO said Monday morning: “I am pleased that we have reached an agreement with bondholders, which represents a strong vote of confidence in Spirit and our long-term plan. The most important thing to know is that travelers can continue to book and fly now and in the future.”
The airlines say they don’t expect travel to be impacted this year, but travel insiders tell Help Me Hank they foresee major problems as early as January 2025. This will likely be due to the loss of employees while working a busy travel schedule. If you do book, make sure you take out insurance and use a credit card, which will give you more protection.
I’m heading to DTW now – Spirit is the second largest airline outside DTW – and will have more in my report at 5pm
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