CHARLOTTE, N.C. (WBTV) – A popular low-cost airline that operates several nonstop routes from Charlotte Douglas International Airport filed has filed for bankruptcy.
Spirit Airlines made the announcement Monday morning, with its bankruptcy filing part of a restructuring support agreement aimed at reducing debt, increasing financial flexibility and to “position Spirit for long-term success and accelerate investments providing guests with enhanced travel experiences and greater value.”
Since 2020, Spirit has lost more than $2.5 billion, according to the Associated Press.
The budget airline said that it will continue normal operations, and that employees will continue to be paid and their benefits honored.
Despite the filing, passengers can still book and fly with Spirit, as well as use any credits or loyalty points.
“This set of transactions will materially strengthen our balance sheet and position Spirit for the future while we continue executing on our strategic initiatives to transform our guest experience, providing new enhanced travel options, greater value and increased flexibility,” Spirit CEO Ted Christie said in a news release.
As a result of their bankruptcy filing, Spirit said it expects to be removed from the New York Stock Exchange (NYSE) in the near future.
According to its website, Spirit currently operates at least 11 nonstop routes from Charlotte. Those destinations include New York City, Miami, Las Vegas and Los Angeles.
On Oct. 26, another low-cost airline, JetBlue, stopped service to and from Charlotte Douglas.
More: Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom
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