Spirit Airlines shares plunge on report of potential bankruptcy filing
Shares of Spirit Airlines (SAVE.N), opens new tab plunged 37% to a record low on Friday after a report that the ultra low-cost carrier was discussing a potential bankruptcy filing.
The airline has been losing money despite strong travel demand, raising doubts about its ability to manage looming debt maturities.
Its long-term debt and finance leases amounted to about $3.06 billion, excluding current maturities, as of Dec. 31. The airline has until Oct. 21 to refinance $1.1 billion in loyalty bonds due next year.
Flew Spirit from PIT to MCO and back.
We left on the 1:00 ish flight to MCO and it took off a few minutes early and landed early. No issues. Was a great flight. I was on the aisle (row 14) and there was an empty space in the middle. Very nice older lady by the window. When they closed the doors we both shared a look of excitement over the extra room.
Flight home was at 6:30. Breezed through security except that WV drivers licenses put some sort of halogram over the photo so the scanners donât like them. At both PIT and MCO I had to pull out my passport.
Again, great flight. No issues. All was well.
My first experience with Spirit was just awful but it was the passengers around me, not spirit. So I will continue to fly them.
I will always pay for a carry-on and choose your seat bundle.
I will try to get an aisle seat if Iâm not with my family.
I hope this airline makes it. SW had times that were just too early. Being 1.5 hours from the airport makes early flights unbearable.
I agree. Spirit makes flying possible for so many. I hope they find a way to increase revenues without drastically changing their product. I do think when SW changes to a format the is closer to Spirits, Spirit will become an option to consider for so many (including myself) that went with SW solely for the all-inclusive type pricing.
Interesting. Of course I paid to join the Savers Club in July and then their flight patterns changed from my home airport (SDF) making them not as attractive. They used to do one flight out in the early morning and one flight back home in the late evening. Now theyâve switched to leaving SDF at 7pm and not arriving util 9:25PM and then leaving MCO at 7AM so Iâm basically losing two days.
Right now they have no flights at all scheduled for December and limited flights for November. Full schedules showing January, February and March.
Spirit was like my drug dealer feeding the Disney addictionâŚ$50 round trip flights were amazing. Now they have me hooked and no way to get my fix
Spirit has DRASTICALLY cut flights from my home airport (SDF-Louisville KY). They used to fly every day and now itâs like once a week, if that. And the flights that are going SDF to MCO have a 12 hour layover in FLL.
I paid to join the Saverâs Club in July and have only been able to book 1 one-way flight with them. I used to be able to get $50-$100 round trip flights with them.
I feel like my drug dealer just got arrested
My Disney addiction has quickly had to go in to rehab since I canât get there cheaply any more.
Same here for MSY New Orleans. I was checking some options for March and noticed the non-stops from Spirit are fewer. Though they still have some decent options. Iâve noticed prices have significantly increased.
Just wanted to share a news story about latest developments on Spirit. Plans to cut the number of pilots this fall and decrease the number of flights as well starting in November. Could effect future plans for folks flying to WDW
Spirit used to have a 7AM flight to MCO and a 9PM flight home from my airport that ran every day. It made quick trips possible, especially with round trip flights usually between $50 and $100. That changed last year and they only fly a few times a week to MCO now. This will probably decrease it more. BooooooooâŚ
Yeah I am probably not going to re-up my discount membership (whatever itâs called ) with this update. Much as I like them and their prices, itineraries matter!!
Just the fear of having a canceled ticket keeps me from booking Spirit. Itâs a shame because I had a good experience (mostly) with Spirit. And I like how they have the larger seat options. I saw Breeze offers a similar low cost flight experience.
They owe me a credit! Guess itâs lost.
The news blurb I got from my local news says the government is still âthinkingâ about stepping in.
I was really hoping to book a Spirit flight 2 months from now. Will they refund customers for canceled flights? Wonder if I should try to hurry up and usey travel creditâŚ
my market is uninterrupted.