Spirit

If approved, the carrier could cut nearly 41% of its total fleet.

The ultra-low-cost carrier said it has negotiated access to $475 million in new financing.

The carrier’s chief commercial officer, Rana Ghosh, told employees on Friday that the carrier will suspend roughly 40 routes and exit two airports.

The ultra-low-cost carrier said the move is intended to bring staffing levels in line with its fleet size and anticipated flying schedule.

Spirit plans to slash capacity by about 25% this fall as part of its bankruptcy restructuring, a move that will likely trigger more layoffs at the struggling ultra-low-cost carrier.

Ultra-low-cost carrier Spirit is holding its ground against United following a hard-hitting series of comments from CEO Scott Kirby this week.

Spirit will discontinue service in 11 U.S. markets this fall as part of a broader network adjustment, a spokesperson told AirlineGeeks on Wednesday.

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.

Spirit said Friday that it has filed for Ch. 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York as part of a restructuring plan.

Struggling ultra-low-cost carrier Spirit has engaged in high-level talks with rival Frontier, Bloomberg reported Thursday.