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Will Spirit Airlines reduce $1.1 billion in debt by end of 2025?
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Resolution / Starting Odds
Yes • 50%
No • 50%
Official financial statements or announcements from Spirit Airlines
Story
Spirit Airlines Files for Chapter 11 Bankruptcy After JetBlue Merger Fails
Nov 18, 2024, 10:34 AM
Spirit Airlines Inc. has filed for Chapter 11 bankruptcy protection in a New York court, following years of financial losses and a failed merger with JetBlue Airways Corp. The airline, known for its budget travel model, has struggled with mounting debts and a significant drop in share value, with shares plummeting 61% after Frontier Group Holdings Inc. reportedly withdrew its acquisition bid. Spirit aims to slash $1.1 billion in debt while continuing operations. The filing comes after the carrier faced challenges from increased competition, a long run of quarterly losses, and the impact of the travel industry's recovery from the Covid-19 pandemic.
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Successful restructuring • 25%
Bankruptcy filing • 25%
Acquisition by another airline • 25%
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