Broward-based Spirit Airlines exits bankruptcy, and ready to ‘continue transformation’

Spirit Airlines said Wednesday it formally has exited Chapter 11 bankruptcy proceedings “with significantly less debt and greater financial flexibility” after the South Florida-based carrier rejected multiple takeover bids by rival Frontier Airlines in favor of pursuing its own recovery plan.

“We’re pleased to complete our streamlined restructuring and emerge in a stronger financial position to continue our transformation and investments in the guest experience,” Ted Christie, CEO and president, said in a statement.

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Christie said he will continue to lead the airline with the support of its existing executive group. Spirit is headquartered in Dania Beach and remains one of the predominant carriers at Fort Lauderdale-Hollywood International Airport. The company, which hadn’t earned a net profit since before the COVID-19 pandemic, filed for Chapter 11 last December in the face of heavy debt obligations and an eroding customer base.

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