Spirit Airlines is trying to convince customers (and future customers) that its bankruptcy filing is actually a good thing and that they should continue to book flights. The long expected application for creditor protection happened early Monday in New York and the airline pitched it as a way to “reduce our total debt, provide increased financial flexibility, position Spirit for long-term success and accelerate investments providing Guests with enhanced travel experiences and greater value.”
The company accumulated $1.6 billion in debt in the last few years and had attempted mergers with Frontier and JetBlue to pull it out of the financial crisis but both of those merger deals collapsed. The company said it expects to emerge from the Chapter 11 process next year and will maintain business as usual throughout.
