Spirit Airlines has officially exited Chapter 11 bankruptcy proceedings after shedding a large chunk of debt and receiving a new injection of cash from major creditors who supported its continued

Spirit Airlines emerged from bankruptcy protection Wednesday with “significantly less debt and greater financial flexibility,” meeting its goal to complete a reorganization by the end of this quarter.

Spirit Airlines parent Spirit Aviation Holdings said on Wednesday that the low-cost carrier has successfully completed its financial restructuring.

Spirit Airlines said on Wednesday that it had successfully emerged from bankruptcy, exiting a major corporate restructuring five months after first filing for bankruptcy.

Spirit Airlines has flown past its financial turbulence, as the budget airline exits bankruptcy after shedding nearly $800 million in debt, officials said. Spirit has ended its financial restructuring process,

(Reuters) - Spirit Aviation Holdings, the parent company of Spirit Airlines said on Wednesday that the low-cost carrier has successfully completed its financial restructuring.

Ultra-low-cost carrier Spirit Airlines has completed the Chapter 11 bankruptcy process with chief executive Ted Christie pledging to focus in coming months on continued upgrades to the airline's products.