Spirit Airlines Seeks Retention Pay as Operations End
The bankrupt carrier requested 10.7 million dollars for employee bonuses after ending operations. It cited rising fuel costs and failed bailout negotiations.
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Spirit Airlines asked a United States court for approval to pay $10.7 million in retention bonuses as it ceases all flight operations. The bankrupt carrier is shifting to an orderly wind-down after a $500 million government bailout plan collapsed. Investors face a total liquidation of assets as fuel costs and creditor opposition ended restructuring hopes.
