New York (APP) – Discount Carrier Spirit Airlines (Seveq) comes from the protection of bankruptcy.
Budget Airline – is known for No Freelas, Low Cost Flights On a yellow aircraft fleet – Wednesday said that his parents, Spirits Aviation Holdings, were out of Chapter 11 after finalizing the debt reorganization. The reorganization plan, which received a green light from the court last month, aims to bring back the career to profit and promote resources to compete with competitors.
“We are emerging as a strong and more concentrated airline.
The reorganization contract allows the soul to convert its $ 795 million loan into an equity. The company says it has also received 350 million equity investments from existing investors to help future tasks.
Soul Filed for bankruptcy in NovemberAfter years of years of struggle and growing debt, it failed to get back from the Covade 19 pandemic. Florida carrier was particularly affected by the growing operating costs and tough competition. By the time of the filing of Chapter 11, the airline did more than $ 2.5 billion in the beginning of 2020.
Whether the soul will continue as a stand airline, even the efforts to occupy by the budget rivals Like Jet Blow And Frontier Before and during the bankruptcy process, they have failed. Soul The third bid rejected from Frontier Last month
Although integration suggestions may not be completely off the table in the future, Spirits indicated Wednesday that it will continue to focus on its progress and offerings. Christie noted that the airline “will move forward with our new, high -value travel options to renovate a rented journey.”
From its budget to the evolution of special roots, the soul is trying to tap in the growing market for more high travel. Now it is offering flight options with flying prices, high -price tickets come with more facilities. Last year, before filing for Chapter 11, Spirits had decided to sell Bundle fare These include a large seat, preferential boarding, free bags, internet service and breakfast and beverages.
In a message sent to the soul users on Wednesday, Christie continued to identify four travel options from the airline, which he said, “Let you choose how you want to fly.”
On Wednesday, the announcement also noted publicly noted the share trade plans, though not immediately. The shares of the Spirit issued earlier by the Spirit Airlines Inc. was canceled on the bankruptcy of the previous soul-but it is expected to re-list the newly released shares under the new owners, as soon as practically practically actable. “
Meanwhile – Among the wider economic turmoil, High profile plane crashed And others Uncertainty of consumers – Big Airlines has issued a warning of reduction in demand in recent times. Like a career DeltaSouthwest, Americans recently reduced revenue outlook for the first quarter.
