---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-011031"
form_type: "8-K"
ticker: "FLYYQ"
cik: "0001498710"
company_name: "Spirit Aviation Holdings, Inc."
filed_at: "2025-08-29T23:59:59+00:00"
generated_at: "2026-05-17T09:11:50.426622+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Spirit Airlines files Chapter 11; expects equity cancelled, shares to trade OTC

## Summary
- Filed Chapter 11 petitions on Aug 29, 2025; flights, bookings, and operations continue as normal.
- Company expects common stock to be cancelled with no value; shares likely to trade OTC after NYSE American delisting.
- Debt acceleration: $856M senior notes, $275M revolver, $636M EETCs, $849M aircraft loans become due; enforcement stayed by bankruptcy.
- AerCap asserts default on 36 undelivered aircraft leases ($2.1M termination fee each) and 37 existing leases; Spirit disputes and may litigate.
- Retention awards paid to top executives: CEO Davis $2.918M, CFO Cromer $1.185M, COO Bendoraitis $1.132M, GC Canfield $1.082M.

## SEC filing metadata
- accession: 0000950103-25-011031
- form_type: 8-K
- ticker: FLYYQ
- cik: 0001498710
- company_name: Spirit Aviation Holdings, Inc.
- filed_at: 2025-08-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 2.04, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1498710/000095010325011031/0000950103-25-011031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498710/000095010325011031/dp233724_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-011031
- JSON: https://secwatch.observer/filing/0000950103-25-011031.json
- Plain text: https://secwatch.observer/filing/0000950103-25-011031.txt

## Key facts
- Distress & Bankruptcy
  Spirit Aviation Holdings, Inc. entered chapter 11 in U.S. Bankruptcy Court for the Southern District of New York (petition 2025-08-29).
  - Proceeding: chapter 11
  - Court: U.S. Bankruptcy Court for the Southern District of New York
  - Petition: 2025-08-29
  source text: On August 29, 2025, Spirit Aviation Holdings, Inc. ("Spirit" or the "Company"), as well as Spirit Airlines, LLC (formerly known as Spirit Airlines, Inc.) ("Spirit Airlines"), Spirit IP Cayman Ltd. ("Brand IP Issuer"), Spirit Loyalty Cayman Ltd. ("Loyalty IP Issuer" and, together with Brand IP Issuer, the "Co-Issuers"), Spirit Finance Cayman 1 Ltd., Spirit Finance Cayman 2 Ltd. each a direct or indirect subsidiary of Spirit, filed a petition under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the Bankruptcy Court (the "Chapter 11 Cases").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325011031/0000950103-25-011031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.