Spirit Airlines lands in Chapter 11
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 18 November 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
Biggest stock movers Monday: TSLA, SMCI, and more
Nvidia's Blackwell AI chips overheating in servers: report
Xi Jinping says China ready to work with Trump 2.0, but warns on crossing 'red lines'
Cineworld owners working on plans to return to stock markets: report
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, November 18th. I'm Julie Morgan. Spirit Airlines files Chapter 11. |
| 0:15.0 | CareMax is also bankrupt, and Boeing lays off workers. |
| 0:24.0 | Spirit Airlines has filed for bankruptcy protection. |
| 0:30.1 | Spirit has already received backstop commitments for a $350 million equity investment and a $300 million debtor and possession financing arrangement from current bondholders. |
| 0:36.0 | The airline will complete a de-leveraging transaction |
| 0:38.7 | to equitize $795 million of funded debt as part of the arrangements. For now, it expects |
| 0:45.7 | to be delisted from the New York Stock Exchange in near term. The shares are expected to be canceled |
| 0:51.2 | and have no value as part of spirits restructuring. The airline said in an |
| 0:55.8 | open letter that customers can continue to book flights and use the rewards programs as normal. |
| 1:02.1 | Spirit expects to complete the process in the first quarter of 2025. American Airlines was the |
| 1:08.1 | last major U.S. airline to file for bankruptcy 13 years ago. |
| 1:13.4 | Medical Services Company CareMax filed for Chapter 11 bankruptcy protection on Sunday. |
| 1:18.9 | CareMax, which largely serves older patients, operates 56 medical centers in Florida, Texas, Tennessee, and New York. |
| 1:27.4 | According to Reuters, the Miami-based company |
| 1:30.0 | listed assets of $390 million and $693 million in debts in its filing with the U.S. |
| 1:36.8 | Bankruptcy Court for the Northern District of Texas. The company reportedly said in its |
| 1:41.9 | filing that it intends to seek a sale or other options for its management services business and center assets. |
| 1:49.0 | The filing added that Keramax's board has hired Alvarez and Marshall as its financial advisor and Piper Sandler as its investment banker. |
| 1:59.0 | Last week it said in a filing with the U.S. Securities and Exchange |
| 2:02.6 | Commission that it would not be able to file its Q3 earnings report because of a lack of funding. |
| 2:08.5 | Kermax in August posted a Q2 loss of $170.6 million and warned about its ability to continue |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.