Bankruptcy

The struggling ultra-low-cost airline expects to save about $100 million per year through the contract modification.

The carrier cut about 150 positions this week as it continues restructuring.

The carrier is currently restructuring its operations under the supervision of a U.S. bankruptcy court.

The airline is currently restructuring after declaring bankruptcy in August.

The carrier had planned to take delivery of up to 62 aircraft.

The carrier will have immediate access to $200 million as it navigates its second bankruptcy.

Swedish airline Braathens International Airways has filed for bankruptcy after failing to secure financing for its fleet of Airbus jets.

A U.S. bankruptcy court has given Spirit permission to tap $275 million in emergency funds as it prepares to restructure its business.

In a court filing, the airline says it had ‘no choice’ after its largest lessor terminated leases on 36 future aircraft and declared default on 37 more.

Struggling ultra-low-cost carrier Spirit has brought on outside advisers as it considers its options, including a possible second restructuring.