Spirit Airlines
Spirit Airlines continues its tailspin
Making more moves to stave off bankruptcy after the courts refused an acquisition by JetBlue, Spirit is set to sell 23 planes and implement a cost-cutting (layoff) round. The cutting will save it $80mm & the planes will fetch ~$519mm.
As dire as things appear, Inc notes that Frontier might be exploring making a new bid for the company. Could this one be saved? Will the government allow it to sell to someone else? Or will it continue toward its inevitable impact with the ground?
JetBlue officially grounds takeover of Spirit Airlines
This was all but inevitable after a judge ruled against the acquisition last month, but it’s now officially dead.
Spirit is now on deathwatch.
