Spirit Airlines reached an agreement with creditors that will allow the carrier to emerge from bankruptcy later this year, avoiding the risk of closure.

•⁠ ⁠The airline, which filed for bankruptcy in November 2024, has sold aircraft and airport slots, reduced debt, and significantly cut staff.

•⁠ ⁠Spirit is expected to operate as a much smaller airline, offering nearly 40% fewer flights and seats this summer compared with the same period in 2024.

•⁠ ⁠The company will remain an independent carrier under the terms of the deal, following previously failed merger attempts with Frontier Airlines and JetBlue.