- Spirit Aviation Holdings, Inc. (FLYYQ) filed for Chapter 11 bankruptcy on **August 29, 2025**, and its common stock was delisted from NYSE American, subsequently trading on the OTC Pink Limited Market under **FLYYQ** since **September 3, 2025**.  **[1498710_0000950103-25-013149_dp235820_8k.htm:0]** 
- The company entered a Global Restructuring Term Sheet with AerCap Ireland Limited, under which AerCap will provide a **$150 million** liquidity payment to Spirit (net of certain fees).  **[1498710_0000950103-25-013149_dp235820_ex1002.htm:0]** 
- As part of the restructuring, Spirit will assume leases for **ten (10) aircraft** and amend its purchase agreement with Airbus to remove **fifty-two (52) firm aircraft** and up to **10 option aircraft** from its orderbook.  **[1498710_0000950103-25-013149_dp235820_ex1002.htm:1]** **[1498710_0000950103-25-013149_dp235820_ex1002.htm:3]** 
- Spirit plans to launch a tender offer on or after **October 14, 2025**, for Prepetition Note holders to participate in a DIP Credit Agreement or exchange their notes, supported by a Superpriority Priming Debtor-in-Possession Credit Agreement dated **October 14, 2025**, which includes **$75,000,000** in Second Draw New Money Term Loans available no earlier than **November 7, 2025**.  **[1498710_0000950103-25-013149_dp235820_8k.htm:4]** **[1498710_0000950103-25-013149_dp235820_8k.htm:7]** **[1498710_0000950103-25-013149_dp235820_ex1001.htm:37]**

Spirit Aviation Holdings, Inc. Announces Chapter 11 Restructuring and Financing Agreements

- A class action lawsuit has been filed against **Spirit Aviation Holdings, Inc. (FLYYQ)** on behalf of investors who purchased securities between **May 28, 2025, and August 29, 2025**.  **[1498710_20251006LA91462:0]** 
- The lawsuit alleges that Spirit failed to disclose its substantial risk of being unable to meet debt obligations and being forced to file for Chapter 11 bankruptcy, while overstating its financial condition.  **[1498710_20251006LA91462:0]** 
- Spirit Aviation Holdings filed voluntary petitions for **Chapter 11 bankruptcy** on **August 29, 2025**, with shares expected to be cancelled and have no value as part of the restructuring.  **[1498710_20251006LA91462:0]** 
- Following the bankruptcy disclosure, Spirit's stock price fell **$0.71 per share, or 58.2%**, to close at **$0.51 per share** on September 3, 2025, after the NYSE suspended trading and the stock began trading on the OTC market under FLYYQ.  **[1498710_20251006LA91462:0]** 
- Shareholders interested in serving as lead plaintiff in the class action must submit their papers by **December 1, 2025**.  **[1498710_20251006LA91462:0]**

Spirit Aviation Holdings (FLYYQ)