Spirit Aviation Holdings He declared bankruptcy for the second time in less than a year after his airline, with liquidity problems, failed to recover his business.
The Spirit Airlines parent company presented a request for protection of Chapter 11 before the US Bankruptcy Court for the Southern District of New York, as reported on Friday in a statement. The application is produced in the midst of active negotiations with some of its main landlords, guaranteed bond holders and key shareholders, the airline said.
Spirit’s shares fell 51% in operations after the market on Friday at US $ 0.60 at 4:20 p.m. in New York. Bankruptcy marks the failure of a previous restructuring that eliminated approximately US $ 795 million of Spirit’s general balance and demanded that bond holders an additional capital injection. The new funds were used to support initiatives aimed at attracting more passengers, diverting from their basic rate model and offering clients more benefits.
Last week, Spirit Airlines He had borrowed US $ 275 million through a rotary credit line to avoid an imminent cash crisis that threatened to cut the company’s ability to accept payments with customer credit cards.
In this context, Us Bank had warned that If Spirit did not reserve more effective as a guarantee, the contract to process customer credit card payments would be canceled at the end of the year. The threat forced Spirit to warn investors that the company could break.
