Airline Avoided Going Out Of Business But Will Be Smaller Going Forward Spirit Airlines announced Tuesday that it made an agreement with creditors that will allow it to emerge from bankruptcy later this spring or early summer. The airline had ongoing losses and two bankruptcy filings, so the deal reached will allow it to survive as a smaller company. “Spirit will emerge as a strong, leaner competitor that is positioned to profitably deliver the value American consumers expect at a price they want to pay,” said CEO Dave Davis in a statement.
