Spirit Airlines reports $316.4M net loss for November; launches $350M rights offering

Spirit Aviation Holdings, Inc.

Net loss of $316.4M for November 2024 (first month of Chapter 11) on revenue of $351.2M.
Cash balance end of month $203.6M; total liabilities $9.47B with equity deficit of $12.6M.
Launched $350M equity rights offering expiring Jan 30, 2025 as part of pre-arranged restructuring plan.
Plan contemplates current equity holders will receive no recovery; stock trades OTC Pink under SAVEQ.
Employee headcount 7,425 at month-end vs. 7,384 at petition date (Nov 18).

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