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Spirit Airlines emerges from Chapter 11 with heavy debt burden
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Spirit Airlines emerges from Chapter 11 with heavy debt burden
Spirit Aviation Holdings, the parent company of ultra-low cost airline, Spirit Airlines, has posted a financial recovery statement with the US Securities and Exchange Commission. The company filed for Chapter 11 protection on 18 November 2024. Unlike Chapter 7 (bankruptcy), Chapter 11 is a way for U.S. companies to avoid liquidation and protect their assets while they attempt to restructure their debts. Having emerged from Chapter 11 protection …
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