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Targeted Emergence
The airline aims to officially exit Chapter 11 as a leaner, restructured entity.
Restructuring Deal
Spirit announces a final agreement with creditors to emerge from bankruptcy.
Creditor Negotiations
Intensive talks begin with bondholders regarding a debt-for-equity swap and new financing.
Bankruptcy Filing
Spirit Airlines officially files for Chapter 11 bankruptcy protection to restructure debt.
Merger Blocked
A federal judge blocks JetBlue's $3.8 billion acquisition of Spirit on antitrust grounds.
Spirit Airlines has finalized a restructuring agreement with its creditors, paving the way for the carrier to emerge from Chapter 11 bankruptcy as early as this spring. The deal includes significant fleet reductions and a streamlined flight schedule designed to return the ultra-low-cost pioneer to profitability.