ORLANDO, Fla. — Spirit Airlines has reached agreements in principle with its pilots and flight attendants as part of its Chapter 11 restructuring efforts, the company announced on November 7.
The agreements, pending ratification and court approval, aim to help Spirit secure financial savings needed for debtor-in-possession financing. Spirit’s leadership also commits to a salary reduction.
“These agreements reflect the shared commitment of our Team Members and principal labor unions in securing a successful future for Spirit,” said Dave Davis, President and CEO of Spirit Airlines.
Spirit Airlines’ agreements with the Air Line Pilots Association and the Association of Flight Attendants-CWA are central to its restructuring, expected to help meet financial targets for the next debtor-in-possession financing draw.
Spirit’s senior leadership commits to a salary reduction at a percentage not less than that of the pilot group upon ratification of a tentative agreement.
The company thanks its pilots and flight attendants for their professionalism and commitment to safety during this challenging time.
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