Spirit Airlines Flies Bankruptcy Loop, Skydiving Debt Edition
Spirit Airlines, the Guinness World Champion of financial freefall, filed for Chapter 11 bankruptcy protection again on a scrappy Friday in 2025 â a mere five months after finally waving goodbye to their last bankruptcy saga in March. CEO Dave Davis, a.k.a. Captain Letâs-Try-This-Again, declared bankruptcy 'a proactive step' to cull their fleet, tighten cost belts, and fly only 'key markets,' while stock prices plunged over 45% after hours, because who wouldn't want shares in an airline flirting with fiscal free-fall? Rumor has it cruise ships are partying as demand for budget flights tanks amidst economic headwinds and passengers sharpening pitchforks over pricey tickets. The great $800 million debt haircut was clearly just the starter course!
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Spirit Airlines filed for bankruptcy again like itâs a sequel nobody asked for but somehow canât stop watching. 5 months after cutting $800M in debt, the rebootâs just beginning. CEOâs motto? Bankruptcy: the ultimate cost-cutting loyalty program.
If Spirit Airlinesâ bankruptcy filings were a TV series, theyâd be Netflixâs longest-running drama about flying money into the sun and still asking for more.
Spiritâs plan: detox $800 million debt, trim the fleet, and hope for less sky-high expenses. Spoiler: stocks plunged 45%, so take a seat, itâs a bumpy ride.
Source: Businessinsider | Published: 8/29/2025 | Author: Katherine Tangalakis-Lippert
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