Spirit: Emergence from Chapter 11 with Financial Restructuring
Deal News | Mar 17, 2025 | Watson Farley & Williams
Spirit Airlines has successfully emerged from Chapter 11 bankruptcy following a comprehensive financial restructuring. The process, which allowed Spirit to restructure its debts and operations, involved negotiations and consultations with secured bondholders. Watson Farley & Williams (WFW) provided advisory services to these bondholders throughout the Chapter 11 proceedings. The restructuring marks a significant turnaround for the airline, enabling it to continue operations with a more sustainable financial structure.
Sectors
- Airlines
- Legal Advisory
Geography
- United States – Spirit Airlines is based in the United States, and the restructuring and bankruptcy process occurred within this jurisdiction.
Industry
- Airlines – The primary focus of the article, as it discusses the financial and operational restructuring of Spirit Airlines.
- Legal Advisory – Watson Farley & Williams' role as legal advisors in the bankruptcy and restructuring process.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Spirit Airlines | Target company | Company | An American ultra-low-cost carrier that went through Chapter 11 bankruptcy and financial restructuring. |
| Watson Farley & Williams | Legal Advisor | Company | A legal firm providing advisory services to secured bondholders in the Spirit Airlines bankruptcy case. |