Money

Spirit Airlines files for Chapter 11 bankruptcy protection

Spirit Airlines files for Chapter 11 bankruptcy amid financial struggles, heavy debts, and a failed merger attempt with JetBlue.

Published

1 year ago

November 19, 2024

ticker NEWS

Spirit Airlines has filed for bankruptcy protection after years of losses and heavy debt. This is the first major U.S. airline to file for Chapter 11 since 2011.

The airline’s proposed merger with JetBlue collapsed earlier this year, exacerbating its financial challenges. Spirit plans to restructure its debts with bondholders’ help and aims to exit bankruptcy in early 2025.

Despite the bankruptcy filing, Spirit will continue normal operations, allowing customers to book flights without interruption. Employee wages and benefits will remain unaffected, as will payments to vendors and aircraft lessors.

Spirit’s shares have dropped significantly in value this year and are expected to be delisted from the New York Stock Exchange.

Engine trouble

The airline has struggled with operational issues tied to Pratt & Whitney engines and has not made a full-year profit since 2019.

To cut costs, Spirit has reduced its operations, furloughing pilots and delaying aircraft deliveries. The recent bankruptcy filing is part of a broader restructuring effort to ease its $795 million debt load and enhance financial stability.

Founded in 1964 as a trucking company and transitioning to aviation in 1983, Spirit became known for its budget-friendly services, although it now faces challenges common among ultra-low-cost carriers. Analysts are questioning the sustainability of its business model in the current market climate.

Money

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

2 days ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

2 days ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

3 days ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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