Spirit Airlines announced an agreement with lenders to emerge from bankruptcy this year as a leaner airline focused on high-demand routes and premium seating options.

Spirit Airlines now expects to exit Chapter 11 bankruptcy proceedings this spring or in the early summer after reaching a tentative financing deal with its leading lenders.

Spirit Airlines plans to emerge from bankruptcy by summer 2026, following a deal with lenders to restructure its finances and reduce debt, while focusing on peak travel periods and premium offerings.

Spirit aims to exit bankruptcy by early summer with $2.1 billion in debt. The airline plans a smaller fleet, lower costs and ...