All articles tagged with #fleet reduction
Spirit Airlines is undergoing significant restructuring in bankruptcy, including obtaining $475 million in DIP financing, reducing its fleet from 214 to potentially around 100 aircraft, and rejecting many lease agreements, which could improve its chances of emerging from bankruptcy as a smaller, more viable airline.
Spirit Airlines is significantly reducing its fleet by over 100 planes through lease rejections and network cuts as part of its bankruptcy restructuring, aiming to save hundreds of millions of dollars and survive financial difficulties.
Spirit Airlines will eliminate its crew base and staff in Atlantic City, defer new plane deliveries, and furlough about 260 pilots in an effort to improve its financial position, aiming to boost liquidity by about $340 million over the next two years.
The US federal government is investigating the safety of General Motors' (GM) robotaxis around pedestrians, following a series of crashes. As a result, the driverless taxi company has been ordered to cut its fleet in half.