Spirit says it is ‘actively’ exploring a sale or merger as it streamlines operations in bankruptcy
Spirit Airlines’ dramatic overhaul of its operations could well end with a sale or merger with another carrier, according to a recent regulatory filing.
While outlining the sweeping restructuring measures it has undertaken since filing a second Chapter 11 bankruptcy petition in less than a year, the airline has acknowledged holding talks with would-be suitors. The discussions have come as management has engaged in an aggressive transformation of Spirit’s route system, fleet, work force and passenger amenities, while taking stock of various assets that could be sold.
“The value maximizing outcome may be a merger or sale of the company; Spirit is actively working to explore all potential opportunities,” according to the mid-October filing with the Securities and Exchange Commission. “The company is actively engaged in discussions with a number of interested counterparties.”
The filing does not identify any suitor or merger partner.
But the Dania Beach-based budget airline, which filed for Chapter 11 bankruptcy protection on Aug. 29, endured a turbulent period of dueling courtships with Frontier Airlines and JetBlue Airways between 2022 and 2024.