On February 12, 2024, a Spirit Airlines aircraft prepared for takeoff at Austin-Bergstrom International Airport in Austin, Texas.
Brandon Bell | Getty Images
spirit airlines Shares closed at new lows on Friday looming deadline Refinanced more than $1.1 billion of debt.
The airline’s stock closed down about 3% at less than $1.50 a share.
The budget airline has extended the deadline for credit card processor Bank of America to Monday from a September date.
The Miramar, Florida-based airline has saved cash over the past year by furloughing employees, cutting flight schedules and delaying aircraft deliveries.
Many of its aircraft have been grounded due to Pratt & Whitney Engine recalls, company reports lower than expected bookings, plans acquisitions JetBlue Airways was scuttled after being blocked by a federal judge on antitrust grounds.
Its shares have fallen more than 90% so far this year, and are down nearly 40% so far in October alone.
earlier this month The Wall Street Journal said The carrier is considering filing for bankruptcy. Spirit and adviser Perella Weinberg Partners did not immediately comment.
