Spirit Airlines plans to shrink its fleet by nearly 100 aircraft, nearly half of its fleet, as part of a sweeping bankruptcy restructuring process, CFO Fred Cromer said on Friday during a virtual meeting with creditors.
The ultra-low-cost-carrier filed for Chapter 11 bankruptcy protection for the second time this year after a prolonged period of financial strain. The carrier, which currently operates 214 aircraft, is using bankruptcy tools to eliminate unprofitable routes and reduce its operations.
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