Spirit Airlines secures $475 million lifeline from creditors amid second Chapter 11 filing

South Florida based airlines Spirit has secured a crucial million deal from several creditors as it enters its second Chapter bankruptcy filling a move amid at positioning a future for the commercial airline Spirit is also in a million agreement with AerCap Ireland which is one of companies the airline leases its aircrafts from In an effort to reduce operational cost the settlement will end leases on nearly planes After a bidding war in JetBlue Airways was set to buy Spirit for a whooping billion after Spirit s attempt to merge with rival discount carrier Frontier Airlines failed The deal with JetBlue had the foreseen of increasing competition for the U S airline industry but ultimately it fell apart after a federal judge blocked the buyout of the nation s lowest-costing airline News spoke with frequent Spirit Airlines flyers at Fort Lauderdale-Hollywood International Airport to get their reaction It s easy It gets me where I need to go fast and it s very cheap and makes my life easier I am going back-and-forth to Baltimore every two days announced Edward Smith rider Honestly I don t think there s any other really cheap options you know what I mean you kind of can t beat it And there s a lot of nonstops so all of that like I just feel like it would give everyone else a chance to monopolize over the industry you know reported Alex Pittsley tourist Spirit revealed it will continue to right-size the business and to generate cost savings again as they handle through a second bankruptcy