Spirit Airlines has now received approval from the U.S. Bankruptcy Court for the Southern District of New York for first day motions after the announcement of entering Chapter 11.
With the approval, the low-fare airline will be able to continue its operations with no disruptions, which includes maintaining current bookings, credits, and loyalty points, paying wages and honouring benefits, and paying critical vendors and partners for goods and services delivered prior to the filing date.
“We are pleased to have reached this first milestone in our restructuring process, which will support normal operations as we take decisive action to ensure that Spirit continues delivering the best value in the sky for years to come,” said Dave Davis, President and Chief Executive Officer. “With these approvals in place and access to the many new tools now available to us, we can continue to implement our transformation to build a stronger foundation and future for Spirit.”
Photo: Spirit Airlines
