Spirit Axed Flying to These 15 Cities as It Navigates a 2nd Bankruptcy in Less than a Year

Spirit axed flying to these 15 cities as it navigates a 2nd bankruptcy in less than a year

Over a dozen cities are losing Spirit Airlines service as it struggles through a financial crisis.Justin Sullivan/Getty ImagesSpirit cut flying to 15 cities as it navigates its second bankruptcy since November.The airline's latest airport exits are Hartford, Connecticut, and Minneapolis.Spirit's whiplash business is bad for customers but beneficial for competitors.Spirit Airlines' second Chapter 11 bankruptcy in less than a year is creating whip…

Spirit Airlines on Track for a $475 Million Bankruptcy Lifeline

Spirit Airlines is making “massive progress” in its effort to revitalize the airline, according to its restructuring lawyer, Marshall Huebner. The struggling budget carrier has reached an agreement with some of its debtholders for up to $475 million in debtor-in-possession financing, which is a crucial lifeline that allows bankrupt companies to continue operating. The airline also secured an additional $150 million from a major aircraft lessor, …