Story perspectives

Spirit Airlines Negotiates Takeover Amid Bankruptcy Exit Efforts

1/22/2026

Summary

Story summary

Spirit Airlines is negotiating with Castlelake, the investment firm, for a potential takeover as it seeks to exit bankruptcy.
Spirit Airlines filed for Chapter 11 protection in August, its second filing in under a year.
Spirit previously explored merging with Frontier Airlines, but those talks failed.
Castlelake, which recently launched an aviation lending arm, could provide financing in exchange for Spirit's assets, while Spirit continues to operate flights normally.

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Story summary

Spirit Airlines is negotiating with Castlelake, the investment firm, for a potential takeover as it seeks to exit bankruptcy.
Spirit Airlines filed for Chapter 11 protection in August, its second filing in under a year.
Spirit previously explored merging with Frontier Airlines, but those talks failed.
Castlelake, which recently launched an aviation lending arm, could provide financing in exchange for Spirit's assets, while Spirit continues to operate flights normally.