Spirit Airlines issues letter to shareholders

Spirit Airlines (SAVE) issued the following open letter to all Spirit guests: “We are writing to let you know about a proactive step Spirit has taken to position the company for success. Spirit has entered into an agreement with our bondholders that is expected to reduce our total debt, provide increased financial flexibility, position Spirit for long-term success and accelerate investments providing Guests with enhanced travel experiences and greater value. Part of this financial restructuring includes filing a “prearranged” chapter 11. The most important thing to know is that you can continue to book and fly now and in the future. We also want to assure you: You can use all tickets, credits and loyalty points as normal. You can continue to benefit from our Free Spirit loyalty program, Saver$ Club perks and credit card terms. Our amazing Team Members are here to offer you excellent service and an elevated experience. We expect to complete this process in the first quarter of 2025 and emerge even better positioned to deliver the best value in the sky. Other airlines that are operating successfully today have undertaken a similar process. For more information about our financial restructuring, please visit www.SpiritGoForward.com. We’re grateful you continue to choose Spirit for your travel needs. As we head into the holiday season and beyond, we look forward to welcoming you on board again soon.”