Spirit Aviation Holdings Inc. seeks court approval to quickly auction off prime operating slots at New York’s LaGuardia Airport, plus its Florida corporate headquarters and loyalty program, and potentially pay three top executives more than $1.9 million in retention bonuses.
As part of a pivot from reorganizing to liquidation, Spirit moved to sell most of its remaining valuable assets, including the LaGuardia slots, real estate, and its “Free Spirit” loyalty program. It filed the motions Wednesday to Judge Sean H. Lane of the US Bankruptcy Court for the Southern District of New York.
The budget airline shut down May 2 ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.