Spirit Airlines confirmed on May 12, 2025, its first quarter results will be published late due to the timing of its emergence from restructuring.
Spirit emerged from bankruptcy on March 12, 2025, which required it to apply ‘fresh start’ accounting to its financial records. Spirit must now split its financial reports into two parts: one prior and one succeeding bankruptcy. In addition, Spirit will recalculate the values of its assets, liabilities, and equity post-emergence.
“The company's resource limitations and the complex calculations required to implement fresh start account… have delayed the preparation of the financial statements,” Spirit read in a SEC filing.
Spirit added it is “currently unable to provide a reasonable estimate” for its first quarter results.
The filing added that Spirit will “work diligently” to file the results. While the company couldn't provide a firm date, it does expect results to filed around the end of this month.