Spirit Airlines Emerges From Chapter 11 Bankruptcy ‘More Focused’
Spirit Airlines has emerged from its Chapter 11 restructuring, having reduced its debt by approximately $795 million. Achieving its reduction through a debt-to-equity swap, the ULCC also received a $350 million equity investment from existing investors to support future initiatives. Spirit emerges with a reconstituted Board of Directors, while CEO Ted Christie and its existing […]
Norwegian’s pilot and cabin crew companies in Sweden and Denmark file for bankruptcy
Due to the ongoing spread of the Coronavirus (COVID-19) most countries have advised against or have banned non-essential travel. The closure of borders and quarantine restrictions has effectively brought the entire airline industry to a halt. Consequently, almost all of Norwegian’s flight operations have been cancelled, while the costs for air crew remain. The pilots […]
