The American low-cost airline Spirit Airlines has received approval to relist its shares on the New York Stock Exchange (NYSE American). Trading is expected to resume on April 29. This follows a period of financial restructuring under Chapter 11 bankruptcy protection, which the company recently successfully completed. The New York Stock Exchange had suspended trading in Spirit shares in November 2024 due to years of losses, failed merger attempts, and high debt.
The re-admission to trading on the NYSE American is seen as an important step in Spirit Airlines' ongoing transformation. The company received court approval in February for a $795 million debt-to-equity plan. Spirit Airlines had accumulated approximately $3,3 billion in debt, with the pandemic and a failed merger attempt with JetBlue cited as the primary causes of its financial woes.
"The listing of our common stock on NYSE American is an important next step in Spirit's continued transformation as we remain focused on returning to profitability and positioning our airline for long-term success," said Spirit CEO Dave Davis. The company had already made operational adjustments during the bankruptcy process and is now striving for a sustainable financial footing.
The resumption of stock trading could boost investor confidence in Spirit Airlines' future performance now that the company has emerged from bankruptcy. However, it remains a challenge for the airline to return to profitability in a competitive market with rising operating costs.
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