- Spirit Aviation Holdings, Inc. (FLYY) **filed voluntary petitions for Chapter 11 bankruptcy** in the U.S. Bankruptcy Court for the Southern District of New York on **August 29, 2025**.  **[1498710_0000950103-25-011031_dp233724_ex9901.htm:0]** **[1498710_0000950103-25-011031_dp233724_8k.htm:1]** 
- The company expects to be **delisted from the NYSE American Stock Exchange** in the near term, and its common stock is **expected to be cancelled and have no value** as part of the restructuring.  **[1498710_0000950103-25-011031_dp233724_ex9901.htm:1]** 
- The Chapter 11 filing triggered an event of default, accelerating obligations under various debt instruments, including **$856.0 million** of PIK Toggle Senior Secured Notes, **$275.0 million** under a Revolving Credit Agreement, **$636.0 million** under enhanced equipment trust certificates (EETCs), and **$849.0 million** from individual aircraft loans.  **[1498710_0000950103-25-011031_dp233724_8k.htm:2]** 
- Spirit intends to use the Chapter 11 process to implement a **comprehensive restructuring**, focusing on redesigning its network, optimizing its fleet, and addressing its cost structure, while flights and operations continue as normal.  **[1498710_0000950103-25-011031_dp233724_ex9901.htm:0]** **[1498710_0000950103-25-011031_dp233724_ex9901.htm:1]**

Spirit Aviation Holdings (FLYY)