New York – Discount carrier Spiritual airlines It has emerged from bankruptcy protection.
The budget airline, known for its Low cost flights without luxuries In a fleet of yellow planes, he said on Wednesday that his father, Spirit Aviation Holdings, left chapter 11 after finishing debt restructuring. The reorganization plan, which received the green light of the Court last month, aims to bring the operator to profitability and increase resources to compete with its rivals.
“We are emerging as a stronger and more focused airline,” said CEO Ted Christie, who will continue to lead the spirit after bankruptcy.
The restructuring agreement allows Spirit to convert $ 795 million of its capital debt. The company says it also received a capital investment of $ 350 million in existing investors to help future operations.
Spirit It was declared in bankruptcy in NovemberAfter years of growing struggles and debts, since he did not recover from the Covid-19 pandemic. The Florida carrier was particularly affected by the increase in operating expenses and the most rigid competition. At the time of its presentation in Chapter 11, the airline had lost more than $ 2.5 billion since the beginning of 2020.
If the spirit will continue as an independent airline, it has also been in the air, although the attempts to acquire the budgetary rivals Like Jetblue and Border They have shown that it is not successful before and during the bankruptcy process. Spirit rejected a third offer from Frontier last month.
While the future mergers of mergers may not be completely out of the table, Spirit pointed out on Wednesday that he would continue to focus its own growth and offers. Christie said the airline would be “advancing with our strategy to redefine low tariff trips with our new high -value travel options.”
In an evolution of its exclusive roots of the budget, Spirit is trying to take advantage of the growing market for more exclusive trips. Now it offers flight options with staggered prices, the highest price tickets come with more comforts. Last year, months before presenting chapter 11, Spirit decided to sell grouped rates That includes a bigger seat, a priority shipment, free bags, Internet service and snacks and drinks.
In a message sent to Spirit customers on Wednesday, Christie continued to point out those four travel options from the airline, which said, “he says how you want to fly.”
Wednesday’s announcement also observed plans to re -operate actions publicly again, although not immediately. Spirit’s actions previously issued by Spirit Airlines Inc. were canceled in their bankruptcy exit, but hopes to include the actions, recently issued under new owners, “as soon as reasonably possible.”
Meanwhile, between broader economic agitation, High Profile Air Shocks and others Uncertainty of the consumer – The main airlines have issued warnings in recent days about the fall in demand. Carriers like DeltaSouthwest, American, recently reduced income prospects for the first quarter.
