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Budget flights hang in balance as bankrupt Spirit Airlines turns to private equity for lifeline: report

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3 days ago

Beleaguered carrier Spirit Airlines may get a lifeline out of bankruptcy.The low-budget carrier is in talks with Castlelake, a global alternative investment firm with approximately $33 billion in assets under management, about a potential takeover, according to CNBC.The airline has long struggled to compete with rival carriers that offer various levels of service and fly to more destinations. Its financial situation became so perilous that the airline was forced into bankruptcy twice in one year. In August, it said it had entered the Chapter 11 process after failing to complete a reorganizatio...

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3 days ago
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