Overview
- ALPA issued a Jan. 13 open letter asking Spirit’s bondholders to continue financing the carrier’s Chapter 11 process to avoid job losses and regional disruption in South Florida.
- Spirit has access to a debtor‑in‑possession facility of up to $475 million, with a December third round releasing $50 million immediately and leaving another $50 million contingent on restructuring milestones.
- Reporting indicates some creditors are reassessing whether to extend further support, a choice that could determine whether Spirit completes its reorganization or faces liquidation.
- Pilots and flight attendants have agreed to roughly $100 million in concessions as management cuts routes, renegotiates leases, and trims staffing to reduce costs.
- The case remains in Chapter 11 with no motion to convert to liquidation, and creditors—including Citadel, PIMCO, and Cyrus Capital—face near‑term court deadlines as Spirit’s lawyers seek to pause a shareholder suit.