Highest-materiality recent filing
Spirit Airlines begins wind-down; all flights cancelled, expects complete equity loss
All Spirit flights cancelled effective immediately May 2, 2026; guests told not to go to airport.
Spirit enters restructuring support agreement; existing equity to be cancelled
RSA signed with holders of 74.6% DIP loans, 71.8% Roll-Up DIP, 60% Prepetition Notes; plan creates 76-aircraft EmergeCo.
Spirit Aviation terminates share registration; holders waive resale rights amid Chapter 11
Holders of majority of Registrable Securities waived rights under Sections 2.1, 2.2, 2.3 of Registration Rights Agreement.
Spirit Airlines amends DIP credit agreement, draws $100M new money term loans with restrictions
Amendment allows immediate use of $50M from third draw; remaining $50M subject to progress on reorganization or strategic transaction.
Spirit Aviation files first Chapter 11 monthly operating report; no recovery for equity holders
Monthly operating report for Aug & Sep 2025 filed with Bankruptcy Court on Nov 18, 2025.
Spirit Aviation: 96.05% of PIK Toggle Notes tendered in DIP roll-up, $818M accepted
Total principal tendered: $818,362,453 out of $852,039,973 outstanding (96.05%).
Agreements in principle with ALPA (pilots) and AFA (flight attendants), subject to definitive documentation, ratification, and court approval.
Spirit Aviation Holdings receives court approval for $475M DIP financing in Chapter 11
Bankruptcy court entered final order on Oct 31, 2025 approving the DIP credit agreement.
Spirit Aviation enters $475M DIP facility, AerCap settlement during Chapter 11
Bankruptcy Court approved $475M DIP facility; $200M funded immediately, up to $275M in subsequent tranches, maturing July 14, 2026.
NYSE Regulation notified Spirit on Sept 2, 2025 it will delist common stock (FLYY) after Chapter 11 filing on Aug 29, 2025.
Spirit Airlines files Chapter 11; expects equity cancelled, shares to trade OTC
Filed Chapter 11 petitions on Aug 29, 2025; flights, bookings, and operations continue as normal.
Spirit Aviation borrows $275M under revolver, extends card processor deal to 2027
Borrowed full $275M available under Revolving Credit Facility on August 21, 2025; corrects maturity to March 12, 2028.
Spirit Aviation borrows $275M revolver, extends card agreement to Dec 2027 with $50M pledge
Borrowed the full $275M available under amended revolving credit facility, maturing Sep 30, 2026.
Spirit enters engine compensation deal with IAE; expects $150M-$195M liquidity benefit
Agreement with IAE provides monthly credit through end of 2025 for each GTF-grounded aircraft.
Inducement award granted to each of Robert A. Milton and David N. Siegel on April 25, 2025, for up to 554,436 shares each.
Spirit Airlines appoints Dave Davis as President and CEO effective April 21, 2025
Base salary $950k, target bonus 125% of base, sign-on cash bonus $4M (two installments), retention bonus $4M vesting in 5 years.
Spirit CEO Ted Christie steps down; Office of 3 execs to lead; CCO replaced by Ghosh
Ted Christie, President and CEO, stepped down April 6; Board conducting search for permanent CEO.
$215M private placement of Series 2025-1B(R) Pass Through Certificates at 11% interest, secured by 27 A320-family aircraft.
Spirit emerges from Chapter 11 with $300M facility, $840M notes, new equity and board
Emerged on March 12, 2025; old common stock cancelled; new parent Spirit Aviation Holdings formed.
Spirit Airlines reports Dec 2024 net loss of $410M in Chapter 11 monthly report
Net loss for December 2024 was $409.9M on gross income of $460.9M, including $87.6M in reorganization items.
Spirit Airlines bankruptcy plan confirmed; existing common stock canceled, $350M new equity
Bankruptcy court confirmed reorganization plan on Feb 20, 2025; emergence expected in weeks.
Spirit rejects Frontier's $400M debt+19% equity proposal; stands by standalone recap
Spirit rejects Frontier's Feb 4 proposal: $400M second-lien debt + 19% equity, waiving $35M termination fee.
Frontier proposed $400M principal debt + 19% equity for Spirit stakeholders; Spirit deemed it inferior to existing plan.
Spirit Airlines Secures $300M Exit Financing and $300M DIP Facility Amid Chapter 11 Reorganization
Secured commitment from prepetition debtholders for up to $300M senior secured exit revolving credit facility.
Spirit Airlines reports $316.4M net loss for November; launches $350M rights offering
Net loss of $316.4M for November 2024 (first month of Chapter 11) on revenue of $351.2M.
Spirit Airlines subsidiaries file Chapter 11; default on 8.00% notes due 2025 triggered
Spirit's Co-Issuers and Cayman Guarantors filed Chapter 11 petitions on Nov 25, 2024, joining Spirit's pre-arranged process.
Spirit gets 94.56% consent to amend 2025 Notes, remove bankruptcy remote provisions
Consent solicitation expired Nov 25; holders of 94.56% of 8.00% Senior Secured Notes due 2025 approved amendments.
Spirit Airlines delisted from NYSE after Chapter 11 filing; trades on OTC Pink under SAVEQ
NYSE suspended trading of Spirit common stock on Nov 18, 2024, and commenced delisting proceedings.
Spirit Airlines NYSE delisting imminent; launches consent solicitation for Chapter 11 prep
NYSE suspended trading of Spirit common stock; expects delisting and OTC Pink trading under symbol SAVEQ.
Spirit Airlines files Chapter 11, plans to cancel common equity, equitize $795M debt
Filed voluntary Chapter 11 on Nov 18, 2024; all flights and operations continue as normal.
Spirit files NT 10-Q; Q3 margin down ~12ppts; restructuring talks may cancel equity
Filed Form 12b-25 for delayed Q3 2024 10-Q due to restructuring negotiations with noteholders.
Sold 23 A320ceo/A321ceo aircraft to GA Telesis for ~$519M total price; deliveries through Feb 2025.
Spirit sells 23 A320-family aircraft for $519M; Q3 margin improves but capacity slashed
Binding term sheet with GA Telesis to sell 23 A320ceo/A321ceo aircraft for ~$519M; deliveries Oct 2024–Feb 2025.
Spirit Airlines draws down $300M revolver, extends refinancing deadlines for notes
Borrowed entire $300M under senior secured revolving credit facility on Oct 15, 2024; matures Sept 30, 2026 unless earlier triggered.
Spirit Airlines Q2 2024 net loss $192.9M; revenue down 10.6%; targets $100M cost savings
Net loss $192.9M ($1.76 EPS); adjusted net loss $157.9M ($1.44 adjusted EPS).
On April 17, 2025, Spirit Aviation Holdings, Inc. (“Spirit” or the “Company”) announced the appointment of David Davis as President, Chief Executive Officer of the Company and as a member of the Board of Directors of the Company (the “Board”), in each case to be effective April 21, 2025.
On April 6, 2025, Edward M. Christie, III, President, Chief Executive Officer and director of Spirit Aviation Holdings, Inc. (the “Company”), stepped down from his role with the Company and the Board of Directors (the “Board”).
on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors.
On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order.
on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors.
on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors.
On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order.
On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order.
on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors.
on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors.
On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order.
on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors.
Max materiality 1.00 · Median 0.75 · Most common event other_material