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Spirit Airlines is sending an open letter to all Spirit guests

Vaseline3 weeks ago

0 4 minutes read

DANIA BEACHFla., November 18, 2024 /PRNewswire/ — Spirit Airlines, Inc. (“Spirit” or the “Company”) (NYSE: SAVE) today sent the following open letter to all Spirit guests:

We are writing to inform you of a proactive step Spirit has taken to position the company for success. Spirit has entered into an agreement with our bondholders that is expected to reduce our overall debt, provide greater financial flexibility, position Spirit for long-term success and accelerate investments that will provide guests with better travel experiences and greater value. Part of this financial restructuring includes filing a “pre-arranged” Chapter 11.

The most important thing to know is that you can continue to book and fly now and in the future. We also want to assure you:

- You can use all tickets, credits and savings points normally.
- You can continue to take advantage of our Free Spirit loyalty program, Saver$ Club benefits and credit card terms.
- Our wonderful team members are here to provide you with excellent service and an enhanced experience.

We expect to complete this process in the first quarter of 2025 and be even better positioned to deliver the best value in the sky. Other airlines operating successfully today have undertaken a similar process. For more information about our financial restructuring, please visit www.SpiritGoForward.com.

We’re grateful that you continue to choose Spirit for your travel needs. As we enter the holiday season and beyond, we look forward to welcoming you back on board soon.

Additional information

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/SpiritGoForward or by calling Spirit’s restructuring information line at (888) 863-4889 (toll-free in the US) or +1 (971) 447-0326 (international). Additional information is also available at www.SpiritGoForward.com.

About Spirit Airlines

Spirit Airlines (NYSE: SAVE) is a leading low-cost carrier committed to delivering the best value in the air by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations everywhere the United States, Latin America and the Caribbean with its Fit Fleet®, one of the youngest and most fuel-efficient fleets in the US. Spirit is committed to inspiring positive change in the communities it serves through the Spirit Charitable Foundation. Discover elevated travel options with exceptional value at spirit.com.

Questions from investors:
Spirit Investor Relations
(email protected)

Media inquiries:
Spirit media relations
(email protected)

FGS Global
(email protected)

Cautionary Statement Regarding Forward-Looking Statements

This press release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). “) that are covered by the “safe harbor” created by those sections. Forward-looking statements are based on the beliefs and assumptions of our management and on information currently available to our management. All statements other than statements of historical fact are ” forward-looking statements” within the meaning of these provisions. In some cases, you can identify forward-looking statements by terms such as “may”, “will”, “should”, “could”, “would”, “expect”, “plan,” “anticipate,” “believe,” “estimate,” “project,” “predict,” “potential” and similar expressions intended to identify forward-looking statements include, but are not limited to, statements regarding the Spirit’s expectations regarding the normal course of the Chapter 11 process. Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results anticipated. such forward-looking statements expressed or implied. Factors include the risks associated with the bankruptcy process, including the Company’s ability to obtain court approval from the Court regarding any motions or other requests made to the Court during the course of Chapter 11, including regarding the DIP; the impact of Chapter 11, including increased legal and other professional costs necessary to implement the Company’s restructuring process, on the Company’s liquidity (including the availability of working capital during the term of Chapter 11); the effects of Chapter 11 on the interests of various constituents and financial stakeholders; the length of time the Company will operate under Chapter 11 protection and the continued availability of working capital during the period that Chapter 11 is in effect; objections to the company’s restructuring process, the DIP or other filings that could extend Chapter 11; risks associated with third party motions in Chapter 11; Rulings of the Court in Chapter 11 and the outcome of Chapter 11 in general; the Company’s ability to comply with the restrictions imposed by the terms of the DIP and other financing arrangements; employee turnover and the Company’s ability to retain senior management and other key personnel due to the distractions and uncertainties; risks related to the potential delisting or suspension of trading of common stock by the New York Stock Exchange, the impact of litigation and regulatory proceedings; and other factors discussed in the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC, and other factors as described in the Company’s filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023as supplemented in the Company’s Quarterly Report on Form 10-Q for the ended fiscal quarters March 31, 2024 And June 30, 2024. Furthermore, such forward-looking statements speak only as of the date of this press release. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. Risks or uncertainties (i) that are not currently known to us, (ii) that we currently consider immaterial, or (iii) that may be applicable to any business, could also have a material adverse effect on our business, financial condition or future results. Additional information regarding certain factors can be found in the Company’s filings with the Securities and Exchange Commission, including but not limited to the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

SOURCE Spirit Airlines, Inc.