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Spirit Airlines bankruptcy rumors gained steam this week and that could make things interesting for United and other legacy carriers.<\/em><\/p>\n If you are considering\u00a0booking travel<\/a>\u00a0or\u00a0signing up for a new credit card\u00a0please click here<\/a>.\u00a0Both support LiveAndLetsFly.com.<\/p>\n If you haven\u2019t followed us on\u00a0Facebook<\/a>\u00a0or\u00a0Instagram<\/a>, add us today.<\/strong><\/p>\n Speculation grew Friday after a report that Spirit Airlines may seek Chapter 11 bankruptcy protection. Leadership held conversations with bondholders as a $1bn payment looms next year primarily funding new aircraft. Spirit CEO, Ted Christie, said this:<\/p>\n \u201cWe are engaged in productive conversations with the advisors of our bondholders to address the upcoming debt maturities. Because those conversations are ongoing, we are not going to go into detail or take any questions on this topic or speculate on potential outcomes,\u201d he said in August. \u201cNeedless to say, it is a priority, and we are focused on securing the best outcome for the business as quickly as possible, while staying focused on driving performance and implementing our new travel options and elevated guest experience.\u201d \u2013 Fox Business<\/a><\/p>\n<\/blockquote>\n The carrier has $3.3bn of debt which isn\u2019t necessarily dramatic in the airline business but the Ultra Low Cost Carrier (ULCC) hasn\u2019t been profitable since before the pandemic and that\u2019s a larger problem. The airline was the target of tie-ups with Frontier and JetBlue Airways bidding against each other in 2022 to combine with the Miramar, FL carrier.<\/p>\n \t<\/p>\n What makes Spirit such an attractive target is the size of its fleet (more than 100), one of the youngest in the world, at a time in which access to operable narrowbody aircraft is limited by Boeing\u2019s 737-MAX program concerns and engine issues with new Airbus A320s.<\/p>\n While Spirit could negotiate with creditors and bondholders to avoid a potential bankruptcy filing which can be costly and faces risks in the court process, let\u2019s explore what happens if creditors and the courts do not cooperate.<\/p>\n
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\nSpirit Bankruptcy Rumors Gain Traction<\/h2>\n
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United, Other Legacy Carriers Could Benefit From Asset Sale<\/h2>\n