The airline hasn't posted an annual profit since 2019 and lost more than $335 million in the first half of the year.
Spirit has struggled since its failed acquisition by JetBlue Airways, a Pratt & Whitney engine recall and weaker-than-expected sales.
The carrier early Monday announced a prearranged deal with its bondholders including $300 million in debtor-in-possession financing. It said that vendors, aircraft lessors will not be impaired. with its credit card processor to renegotiate a $1.1 billion debt due next year or risk losing the ability to process those transactions.
Spirit said in the filing that it expects its third-quarter margins to be 12 percentage points lower than during the same period a year ago and that sales were $61 million lower than last year, while costs surged and fares slipped.The airline hasn't had a profit since 2019 and lost more than $335 million in the first half of the year.
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