WASHINGTON (dpa-AFX) - Spirit Airlines (SAVE) is currently in discussions with bondholders about the terms of a possible bankruptcy filing following its unsuccessful merger with JetBlue Airways, the Wall Street Journal reported citing people familiar with the situation.
According to the report, the budget airline has also been considering restructuring its balance sheet through an out-of-court process. However, recent conversations have shifted towards securing support from bondholders and other creditors for a Chapter 11 filing. The timing of such a filing, should it happen, wouldn't be imminent.
SAVE closed Thursday's regular trading at $2.24 down $0.08 or 3.45%. In the after-hours trading, the stock further dropped $0.60 or 26.87%.
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