Spirit Airlines (SAVE) is currently engaged in negotiations with bondholders over the potential terms of a bankruptcy filing, following the unsuccessful merger with JetBlue Airways, as reported by the Wall Street Journal citing sources familiar with the matter.
The budget airline has been exploring options to restructure its balance sheet outside of court proceedings. However, recent discussions have increasingly focused on garnering support from bondholders and other creditors for a Chapter 11 filing. It is important to note that the timing of any potential filing is not expected to be immediate.
On Thursday, SAVE's stock closed the regular trading session at $2.24, reflecting a decrease of $0.08 or 3.45%. In after-hours trading, the stock further declined by $0.60 or 26.87%.
