YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Spirit Airlines has filed for Chapter 11 bankruptcy protection for the second time in less than a year.
Through the latest bankruptcy process, the airline intends to reduce its network and shrink its fleet to save "hundreds of millions of dollars" annually.
"Since emerging from our previous restructuring, which was targeted exclusively on reducing Spirit's funded debt and raising equity capital, it has become clear that there is much more work to be done and many more tools are available to best position Spirit for the future," Spirit CEO Dave Davis said in a news release.
Read more from CNBC.
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