Spirit Airlines Advances Restructuring with Key Agreements with Pilots and Flight Attendants
Spirit Aviation Holdings, the parent company of Spirit Airlines, announced this Friday that it has reached agreements in principle with its two main unions: the Pilots, represented by the Air Line Pilots Association (ALPA), and the Flight Attendants, represented by the Association of Flight Attendants-CWA (AFA). These pacts, still subject to definitive documentation, ratification, and court approval, mark a significant step forward in the company’s financial restructuring process under Chapter 11.
Shared Commitment to Secure the Airline’s Future
Spirit’s President and Chief Executive Officer, Dave Davis, highlighted the importance of these agreements as a reflection of the joint commitment between employees and their union representatives. “We thank the leaders of ALPA and AFA for their collaboration. These agreements reflect our teams’ dedication to securing a successful future for Spirit,” Davis stated.
Furthermore, the company expressed its gratitude to the pilots and flight attendants for their professionalism, resilience, and constant focus on safety and passenger service during this transition period.
→ Spirit Airlines Forecasts Return to Profitability in 2027 Following Major Restructuring
Voluntary Pay Reduction by Executive Leadership
As a show of solidarity, Spirit’s senior management has committed to implementing a proportional pay reduction, equal to or greater than the one agreed upon with the pilot group, once the tentative agreement is ratified. This measure aims to align internal efforts around the airline’s financial sustainability.
Financial Impact and Access to DIP Financing
According to company estimates, the implementation of these agreements would achieve the necessary annual savings level to access the next tranche of financing under the Debtor-in-Possession (DIP) framework. This access is crucial for maintaining operations and advancing Spirit’s structural transformation.
With these steps, Spirit Airlines reinforces its recovery strategy, betting on labor consensus and financial discipline as pillars to build a stronger and more reliable airline in the US market.
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