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Spirit just filed for bankruptcy .... again
Spirit Airlines on Friday filed for bankruptcy for the second time in a year. The discount airline warned in early August it may not survive the year.
Davis added: "After thoroughly evaluating our options and considering recent events and the market pressures facing our industry, our Board of Directors decided that a court-supervised process is the best path forward to make the changes needed to ensure our long-term success." In an open letter to guests published by Spirit after news of the bankruptcy filing was made public, the airline described the move as "a proactive step to build a stronger foundation and future for our company." Throughout the coming Chapter 11 proceedings, Spirit will aim to "focus its flying on key markets," adjust the size of its fleet of planes, and make changes to its cost structure — including "pursuing further efficiencies across the business," according to a website created by the company to inform customers and shareholders about its restructuring process.
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