A Spirit Airlines airplane is refueled at Newark Liberty International Airport on Feb. 20, 2025, in Newark, New Jersey.
Gary Hershorn | Corbis News | Getty Images
Spirit Airlines parent Spirit Aviation Holdings said on Wednesday that the low-cost carrier has successfully completed its financial restructuring.
The company said it has exited chapter 11 by finalizing a debt restructuring transaction approved by a U.S. bankruptcy judge in February.
The restructuring allows the budget airline to convert $795 million in debt to equity. Spirit also received a $350 million equity investment from existing investors, the company said.