Beleaguered Spirit Airlines is contemplating a pre-planned Chapter 11 bankruptcy filing to restructure its $3.3 billion in debt. The company faces an October 21st deadline under covenants with its credit card processor, and will need to restructure to maintain credit…
After reporting an 11th consecutive quarterly loss last week, Spirit Airlines survival has come under question . The carrier is changing its strategy, creating three additional classes, including a premium class with first class seating, in addition to its…
The Boeing Spirit AeroSystems Deal is Expensive. The finalization of a re-acquisition by Boeing of Spirit AeroSystems has been widely announced as a $4.7 billion transaction, using stock rather than cash to complete the deal. But that isn’t the entire…
Spirit AeroSystems announced layoffs of about 450 staff late last week. The timing of these cutbacks, in the course of a Boeing acquisition that is being finalized and amid serious quality problems that resulted in the events of January 5th,…
Troubled Spirit AeroSystems, which is negotiating with Boeing to re-acquire the company, reported a first quarter loss of ($617) million, compared with a loss of ($281) million last year. Net revenues were 19% higher at $1.703 billion, up from 1.431…
Spirit Airlines reported its first quarter financial results today, that showed total operating revenues of $1.265 billion, an adjusted operating loss of ($175.6) million, and a net loss of ($142.6) million. The results were generally in line with expectations, with…