By keely aouga
In November 2024, Spirit Airlines filed for bankruptcy, primarily due to years of financial losses and looming debt, including a failed merger with JetBlue.
After the company's first quarter results of 2025 met its target, Spirit Airlines is out of bankruptcy.
According to Fox News, in order to come out of bankruptcy, Spirit converted $795 million of debt into equity and secured additional financial support from existing investors..
As part of this next step, the airline company recently named a new chief executive officer (CEO), Dave Davis.
Trading began on Apr. 29, under the symbol FLYY. This will mark the first time investors are able to purchase Spirit common stock since going into bankruptcy.
In an industry dominated by large airlines, the company has indicated plans to enhance the travel experience for passengers while maintaining affordable fares.
One of its main competitors is Southwest Airlines, which announced earlier this year that it will end its two free checked bags policy.
According to MarketWatch, on Spirit's first day on the NYSE, the airline closed at $8.35.