Welcome to our dedicated page for Spirit Aviation Hldgs SEC filings (Ticker: FLYY), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings for Spirit Aviation Holdings, Inc. (FLYY) provide detailed insight into the company’s restructuring, financing and ongoing operations as the parent of Spirit Airlines, LLC. On August 29, 2025, Spirit Aviation Holdings, Inc. and its subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York, and subsequent Form 8‑K reports describe key developments in these jointly administered Chapter 11 cases.
Through its Form 8‑K filings, the company discloses the terms of its Debtor‑in‑Possession (DIP) Credit Agreement, including the size and structure of the term loan facility, the timing of initial and additional new money term loans, and the ability of certain noteholders to exchange prepetition notes into roll‑up loans. Later amendments to the DIP Credit Agreement, also reported on Form 8‑K, adjust borrowing conditions, impose cash maintenance requirements on proceeds from specific draws and add reporting obligations such as daily cash and weekly accounts receivable reports.
Other 8‑K filings describe a global restructuring term sheet with AerCap Ireland Limited and related entities, covering the assumption and rejection of aircraft and engine leases, entry into new postpetition leases, settlement of claims and mutual releases, and the transfer of purchase rights and options in respect of certain aircraft. Additional filings include monthly operating reports furnished under Regulation FD, with cautionary language explaining their limited purpose within the Chapter 11 process and warning investors not to rely on them as a basis for investment decisions.
Filings also document the delisting of the company’s common stock from NYSE American following the filing of a Form 25, and note that the common stock began trading on the OTC Pink Limited Market under the symbol “FLYYQ.” Multiple filings emphasize that trading in the common stock during the Chapter 11 case is highly speculative and that the company’s proposed plan contemplates no recovery for existing equity holders.
On Stock Titan’s filings page, users can access these SEC documents alongside AI‑generated highlights that summarize key items such as financing terms, lease settlements, restructuring milestones and risk disclosures. This helps readers quickly understand what each filing covers while retaining the ability to review the full original documents for complete detail.
Spirit Aviation Holdings, Inc. furnished Chapter 11 monthly operating reports for December 2025 and January 2026, providing unaudited financial data from its bankruptcy proceedings in the Southern District of New York.
For December 2025, Spirit reported total operating revenues of $296,449,761, operating income of $8,504,219 and a net loss of $2,068,070,493, driven largely by reorganization items of $2,056,758,430. Total assets were $5,986,082,951 and total liabilities $8,080,717,804, resulting in negative equity of $2,094,634,853.
For January 2026, operating revenues were $250,341,440, with an operating loss of $42,055,390 and a net loss of $125,187,011. As of January 31, 2026, Spirit reported total assets of $5,892,065,588, total liabilities of $8,108,155,090 and negative equity of $2,216,089,502. Significant liabilities are classified as “liability subject to compromise,” reflecting claims being addressed in the Chapter 11 process.
Spirit Aviation Holdings’ 10-K shows a deeply distressed airline restructuring through Chapter 11. The company emerged from a 2024 bankruptcy with fresh start accounting in March 2025, then filed again under Chapter 11 in August 2025 and is currently operating as a debtor-in-possession.
Its NYSE American listing was revoked in 2025, and the stock now trades on the OTC Pink Limited Market under “FLYYQ.” The filing states that any trading in the common stock is highly speculative and that no recovery is expected for existing shareholders in the Chapter 11 cases, meaning current equity is expected to be wiped out.
Spirit has radically restructured its business: exiting over 200 underperforming routes, shrinking and reshaping its Airbus fleet, cutting headcount from 11,331 to 7,482 active employees, and negotiating concessionary agreements with pilot and flight attendant unions. A Transformation Plan pivots the model from ultra‑low cost to a value carrier with new premium offerings and enhanced loyalty benefits.
The company also secured a Restructuring Support Agreement with key lenders in March 2026, involving use of encumbered cash to prepay DIP loans, planned new exit financing, and issuance of new equity largely to DIP lenders and, to a much smaller extent, prepetition secured noteholders, leaving existing shareholders out of the capital structure.
Spirit Aviation Holdings, Inc. outlines a Chapter 11 restructuring anchored by a Restructuring Support Agreement with holders of 74.6% of New Money DIP loans, 71.8% of Roll-Up DIP loans and 60.0% of certain prepetition secured notes. The deal is expected to be implemented through a court-approved plan of reorganization and includes milestones that, if missed, allow key lenders to terminate their support.
Spirit also entered a detailed engine restructuring term sheet with International Aero Engines, providing up to $140,000,000 in maintenance credits and settling invoices with roughly $13 million of cash, while significantly reducing fleet obligations and cancelling 52 aircraft plus 36 transfers. Management’s “EmergeCo” plan shrinks the fleet to 76 aircraft by mid‑August 2026, targets 2026 adjusted EBITDAR of $456 million and 2027 adjusted EBITDAR of $598 million, and projects moving from a 2026 net loss of $111 million to 2027 net income of $55 million. The company explicitly warns that common shareholders may face a significant or complete loss of their investment depending on Chapter 11 outcomes.
Esopus Creek Value Series Fund and affiliates have reduced their stake in Spirit Aviation Holdings, Inc. to a small minority position. They now beneficially own 704,636 shares of common stock, representing about 2.61% of the 27,044,569 shares outstanding cited in the company’s November 2025 quarterly report.
The group reports shared voting and dispositive power over these shares through Esopus Creek Advisors LLC and Andrew L. Sole. Recent activity includes over-the-counter sales of 24,500 shares on February 24, 2025 at $0.4289 per share, 86,264 shares on February 25, 2025 at $0.5108 per share, and 500,000 shares on March 6, 2026 at $0.3237 per share, all excluding commissions. As a result of these transactions, the reporting persons state they ceased to beneficially own at least 5% of Spirit Aviation’s common stock.
Spirit Aviation Holdings, Inc. entered into a consent and waiver with certain common stock and warrant holders on March 5, 2026. Holders of a majority of the registrable securities agreed to waive specified registration rights and allowed the company to file a post-effective amendment to its Form S-1 to terminate the registration of all related common shares.
The company also warns that its ongoing Chapter 11 bankruptcy cases, commenced on August 29, 2025, make trading in its common stock highly speculative. It states that trading prices may not reflect actual recovery and that common shareholders could face a significant or complete loss of their investment depending on the Chapter 11 outcome.
Spirit Aviation Holdings, Inc. reports that, as part of its ongoing Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York, it has filed a monthly operating report for the month ended November 30, 2025. This report, attached as Exhibit 99.1, provides financial and operating data required in the bankruptcy cases and is being furnished under Regulation FD rather than filed for Exchange Act purposes.
The company emphasizes that the monthly operating report is unaudited, prepared in a bankruptcy-specific format, limited in scope, and subject to future adjustments, so it may differ from information in its regular SEC reports and may not reflect longer-term performance. Spirit also includes extensive forward-looking statement warnings, highlighting risks tied to the Chapter 11 process, including court approvals, liquidity during the cases, effects on stakeholders, and the ability to retain key personnel.
Spirit Aviation Holdings, Inc. has amended its debtor-in-possession credit agreement while operating under Chapter 11. The change permits a new $100,000,000 “Third Draw” term loan and removes certain earlier borrowing conditions, but requires the borrower and guarantors to keep $50,000,000 of those proceeds in specified encumbered accounts until restructuring or exit-financing milestones are met and adds enhanced daily and weekly reporting.
An accompanying amendment to the court’s final DIP order, filed for approval, would clarify “Administrative Claim Carve Out Claims” and cap certain of those claims at $80,000,000. The company also cautions that trading in its common stock during the Chapter 11 case is highly speculative and states that holders could experience a significant or complete loss on their investment depending on the case outcome.
Spirit Aviation Holdings, Inc. reported that it has filed a monthly operating report for the month ended October 31, 2025 with the U.S. Bankruptcy Court overseeing its Chapter 11 cases. The company and its subsidiaries have been under Chapter 11 protection in the Southern District of New York since August 29, 2025, with the cases jointly administered under case number 25-11897 (SHL).
The report, furnished as an exhibit to this disclosure, is unaudited, prepared under bankruptcy reporting rules, and may be adjusted or reconciled later. Spirit emphasizes that the report is limited in scope, was not prepared to support investment decisions, and may not be indicative of its full financial condition or future results. The company also notes that, following a Form 25 filed on September 11, 2025, its common stock was delisted from NYSE American and began trading on the OTC Pink Limited Market under the symbol “FLYYQ” on September 3, 2025.