Spirit Airlines’ $3.3 Billion Debt Crisis: Can Planned Bankruptcy, Route Cuts, And Shedding Aircraft Keep It Flying?

Oct 04 2024

Spirit Airlines is in talks with bondholders about a pre-packaged bankruptcy that would allow the airline to reduce debt in exchange for equity. This move would potentially allow the carrier to reject leases on aircraft grounded due to engine problems. Twenty one Airbus narrowbodies are currently in storage (or heavy maintenance) out of 94 with Pratt & Whitney Geared Turbo Fan engines, according to Cirium fleet tracking data.

Out of $3.3 billion in debt, one third of that comes due in under a year, and it must refinance or extend the debt by October 21 under covenants with its credit card processor agreement.

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Are Airlines Penalizing You For Trying To Spend Your Miles At The Holidays? Here’s What The Data Shows.

airplane seats
Oct 03 2024

Points Path is a free browser extension that lets you search for award flights using Google Flights. When you search for paid travel, it also shows you the price of an award. And if helps you compare whether it’s a good use of points or not. I covered it earlier this year.

One thing about tools like this is that they accumulate a lot of data from their searches. And they’ve organized things so that they can mine that data for insights.

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