Spirit Airlines bankruptcy: What travelers need to know [Yahoo! Finance]
Spirit Airlines, Inc. (SAVE)
Last spirit airlines, inc. earnings: 2/5 04:14 pm
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Source: Yahoo! Finance
The airline has already announced that it would sell some planes and cut staff to save money amid the restructuring. It has also reportedly secured millions in funding. It expected to be delisted from the New York Stock Exchange amid the restructuring. If you have a Spirit flight coming up ahead of the holidays, or are looking to book a flight, here is what travelers need to know: Chapter 11 bankruptcy protection is sometimes known as "reorganization" bankruptcy and allows a corporation or partnership to propose a reorganization plan to get the business financially on better footing and to pay its creditors. Here's how the USCourts.gov describes it: "A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains "in possession," has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money. A plan of reorganization is propose
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- Analysis-Spirit Airlines' struggle to navigate post-pandemic trends lands it in bankruptcy [Yahoo! Finance Canada]Yahoo! Finance Canada
- What does the Spirit Airlines bankruptcy mean for airfares? Experts weigh in. [Yahoo! Finance]Yahoo! Finance
- How Spirit Airlines' Bankruptcy Filing Will Affect Holiday Flights [Yahoo! Finance]Yahoo! Finance
- Spirit's bankruptcy won't impact holiday travelers, experts say. But frequent flyers and routes could be impacted next year [Yahoo! Finance]Yahoo! Finance
- More from CNN [CNN]CNN
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