Spirit reaches agreement to come out of second bankruptcy

Spirit Airlines has reached an agreement in principle to come out of bankruptcy, the Broward-based carrier said on Tuesday. The terms, not yet detailed, “will provide Spirit with the financial support needed to finalize its restructuring and complete the remaining changes needed to optimize the Company’s fleet, network and cost structure,” the airline said in a statement. The Dania Beach-headquartered airline intends to emerge from Chapter 11 in late spring or early summer.

In August 2025, Spirit filed for bankruptcy protection for the second time in less than a year.

While the airline became known as a low-cost, no-frills airline, it now says it will expand its Spirit First and Premium Economy offerings while “maintaining its position as the industry price leader.”

The airline also plans to increase flights “during peak days while reducing off-peak flying.” It didn’t specify routes.

“This agreement in principle is the result of months of hard work and allows Spirit to move toward completing its transformation,” Dave Davis, president and chief executive officer, said in the statement. “Spirit will emerge as a strong, leaner competitor that is positioned to profitably deliver the value American consumers expect at a price they want to pay.”

In 2025, Spirit carried more passengers who traveled to or from Fort Lauderdale-Hollywood International Airport than any other airline, with 28% of marketshare there.