Bankrupt Carrier’s Troubles Continue. Stock Worth Just .0001.
BROWARD COUNTY, FL (BocaNewsNow.com) (Copyright © 2025 MetroDesk Media, LLC) — Broward-based Spirit Airlines announced through an SEC filing early Wednesday morning that it’s been delisted by the New York Stock Exchange (NYSE: FLYY). The announcement comes days after the company re-entered Chapter 11 bankruptcy proceedings. BocaNewsNow.com obtained filing which includes these key statements:
”On September 2, 2025, Spirit Aviation Holdings, Inc. (the “Company”) received a notice from the staff of NYSE Regulation (“NYSE Regulation”) that it had determined to commence proceedings to delist the common stock, par value $0.0001, of the Company (the “Common Stock”) from NYSE American LLC (“NYSE American”) and that trading in the Common Stock was suspended immediately on September 2, 2025. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Section 1003(c)(iii) of the NYSE American Company Guide after the Company disclosed in its August 29, 2025 Current Report on Form 8-K that the Company filed a voluntary petition for reorganization under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York (the “Chapter 11 Case”) on August 29, 2025.”
”NYSE American will apply to the U. S. Securities and Exchange Commission to delist the Common Stock upon completion of applicable procedures. The Company does not intend to appeal the determination and, therefore, it is expected that the Common Stock will be delisted from NYSE American. As a result of the suspension and expected delisting, the Common Stock is expected to commence trading in the OTC market. The OTC market is a significantly more limited market than NYSE American, and quotation on the OTC market likely results in a less liquid market for existing and potential holders of the Common Stock to trade in the Common Stock and could further depress the trading price of the Common Stock. The Company can provide no assurance that its Common Stock will continue to trade on this market, whether broker-dealers will continue to provide public quotes of the Common Stock on this market, or whether the trading volume of the Common Stock will be sufficient to provide for an efficient trading market. The transition to over-the-counter markets will not affect the Company’s business operations.”
While Spirit remains operational, the smart play if you’re purchasing tickets is to make sure that you are using a credit card with an easy dispute resolution system. If Spirit Airlines stops flying, you can dispute the charge with your credit card company which most likely immediately issue a credit. If you pay by check or in cash, you may find a refund to be far more difficult — or impossible — to obtain.
