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With this tool, airline managers reduce costs. Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy ...
Spirit Airlines has filed for Chapter 11 bankruptcy protection, it said Monday. The airline will continue to operate as normal, and all tickets remain valid, it added.
The competing Denver-based low-cost airline first offered to buy Spirit Airlines in 2022 but was outbid by a $3.8 billion JetBlue deal. A federal judge ultimately blocked that agreement over ...
Generally, airline loyalty points or miles are not transferrable, but frequent flyer programs are valuable assets that often survive bankruptcies, said Robert W. Mann Jr., a former airline ...
Spirit Airlines filed for bankruptcy protection Monday, as mounting losses, unaffordable debt, increased competition for bargain-seeking airline passengers and the inability to merge with other ...
Budget carrier Spirit Airlines filed for bankruptcy this week, stoking concern about how the financial peril of a low-fare option could impact prices across the industry. The Florida-based company ...
Spirit Airlines filed for bankruptcy protection Monday morning as holiday travel season approaches. Thanksgiving weekend is expected to see nearly 80 million travelers , with almost 6 million ...
The company's share price fell from $3.22 to $1.15 last week after the Wall Street Journal reported it was preparing to file for bankruptcy protection, closing on $1.07 on Friday.