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Tag: Chapter 11 bankruptcy
What Spirit Airlines' Bankruptcy Means For Holiday Travelers
Spirit Airlines, the no-frills budget carrier, announced it would file for Chapter 11 bankruptcy a week before a record number of people are expected to fly during the Thanksgiving holiday, reports said.
The Florida-based airline announced Monday, Nov. 18, that its debt, growing losses, and increased competition have kept the company in the red for four years, and it would need to restructure its bills to keep it in the air, NBC News reported.
However, despite its financial troubles, the airline promised passengers they would not feel any of that pain in the air.
"Guests …
