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Spirit Airlines Exits Bankruptcy This Year
Spirit Airlines reached a deal with lenders on Tuesday. The budget airline will leave bankruptcy by late spring or early summer.
Creditors and noteholders approved the deal. Spirit will emerge as a smaller airline with fewer routes. The airline is based in the United States.
Klear Note — Spirit Airlines filed for bankruptcy in late 2024. Budget airlines operate with lower fares and fewer services than major carriers.
Key Terms 3
- budget airline
- An airline that charges low fares and fewer extra services.
- bankruptcy
- When a company cannot pay its debts and gets court help.
- creditors
- People or companies that lent money to Spirit Airlines.