'Spirit Airlines Explores Bankruptcy Filing; The Budget Carrier Has Been Discussing A Possible Restructuring Agreement To Be Implemented In Chapter 11' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Spirit Airlines is in discussions with bondholders about a potential Chapter 11 bankruptcy filing following a failed merger with JetBlue Airways. The airline is considering restructuring its balance sheet, focusing on reaching an agreement with creditors.
October 03, 2024 | 11:21 pm
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Spirit Airlines is considering a Chapter 11 bankruptcy filing after a failed merger with JetBlue. The airline is in talks with bondholders to restructure its balance sheet.
The news of potential bankruptcy filing is critical for Spirit Airlines as it indicates financial distress following a failed merger. This is likely to negatively impact the stock price in the short term as investors react to the uncertainty surrounding the company's financial stability.
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