Emergence from Chapter 11 expected in late spring or early summer 
 
 
   DANIA BEACH, Fla., Feb. 24, 2026 /PRNewswire/ -- Spirit Aviation 
Holdings, Inc., parent company of Spirit Airlines, LLC ("Spirit" or the 
"Company"), today announced that Spirit has completed another 
significant milestone in its restructuring by reaching an agreement in 
principle on the key terms of a restructuring support agreement with its 
existing DIP lenders and secured noteholders. The agreement in principle 
will provide Spirit with the financial support needed to finalize its 
restructuring and complete the remaining changes necessary to optimize 
the Company's fleet, network and cost structure. Spirit intends to 
emerge from Chapter 11 in late spring or early summer as a strong 
low-cost, value-driven carrier offering Guests basic and premium 
products at the lowest fares in the sky. 
 
 
 
   "This agreement in principle is the result of months of hard work and 
allows Spirit to move toward completing its transformation," said Dave 
Davis, President and Chief Executive Officer. "Spirit will emerge as a 
strong, leaner competitor that is positioned to profitably deliver the 
value American consumers expect at a price they want to pay." 
 
 
   Key aspects of the new Spirit: 
 
 
   -- Optimized Network: Spirit will align its network and capacity to routes 
 
      and periods of strongest consumer demand. This includes higher aircraft 
 
      utilization during peak days while reducing off-peak flying, as well as 
 
      the flexibility to adjust to seasonal demand across markets. 
 
 
 
   -- More Premium Choices: Spirit will expand its Spirit First and Premium 
 
      Economy offerings, maintaining its position as the industry price leader, 
 
      while focusing on value. The Company will also make additional 
 
      enhancements to its Free Spirit$(R)$ and co-brand programs to encourage 
 
      Guest loyalty. 
 
 
 
   -- Stronger Financials: Upon emergence, the Company will have further 
 
      reduced its cost structure, expanding its cost advantage compared to 
 
      legacy and other airlines. It is expected that Spirit's debt and lease 
 
      obligations will be reduced from $7.4 billion pre-filing to approximately 
 
      $2.1 billion post-emergence. 
 
 
   "I am grateful to our Team Members for their dedication and unwavering 
commitment to our Guests throughout our restructuring," Davis added. "I 
also want to thank our Guests for continuing to choose Spirit to connect 
them to the people and places that matter most." 
 
 
   During the restructuring process, Guests can continue to book, travel 
and use tickets, credits and loyalty points as normal. 
 
   Additional Information 
 
 
   The Company maintains a dedicated website about its restructuring 
process at www.spiritrestructuring.com. Additional information about the 
Company's Chapter 11 case, including access to Court filings and other 
documents related to the restructuring process, is available at 
https://dm.epiq11.com/SpiritAirlines or by calling Spirit's 
restructuring information line at (855) 952-6606 (U.S. toll free) or +1 
(971) 715-2831 (international). 
 
   About Spirit Airlines 
 
 
   Spirit Airlines is committed to safely delivering the best value in the 
sky by offering an enhanced travel experience with flexible, affordable 
options. Spirit serves destinations throughout the United States, Latin 
America and the Caribbean with its all-Airbus fleet, connecting 
travelers with the people and places that matter most. Discover elevated 
travel options with exceptional value at spirit.com. 
 
 
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   SOURCE Spirit Airlines 
 
 
 
 
 
 

(END) Dow Jones Newswires

February 24, 2026 11:47 ET (16:47 GMT)