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Most Read from BloombergSydney’s New Airport Will Take Travelers Into the WildAmtrak Debuts New High-Speed Acela Trains After Years of DelaysTo Boost Housing, Chicago Kills Parking MinimumsTrump Signs Order to ‘Make Federal Architecture Beautiful Again’NY Penn Station’s Long-Awaited Revamp to Start Work in 2027Spirit also said in the filing it had received a written notice of default Aug. 25 from aircraft lessor AerCap Holdings, which said it was terminating dozens of leases on aircraft that were scheduled for delivery to Spirit in coming years. Termination would cost Spirit more than $2 million per lease and apply to dozens of aircraft, the filing said. Spirit disputed the notion of a default, and said the termination of leases was invalid.The airline’s parent Spirit Aviation Holdings Inc. filed for bankruptcy Friday afternoon. The retention bonuses come after a previous bankruptcy restructuring that had promised ‘surgical’ precision and a swift debt fix failed within six months.Chief Financial Officer Frederick Cromer will receive about $1.2 million, while Chief Operating Officer John Bendoraitis and General Counsel and Executive Vice President Thomas Canfield will get around $1.1 million, according to the filing.Chief Executive Officer David Davis, who took that job after the company exited bankruptcy in March, will earn a $2.9 million retention bonus.Struggling companies often pay retention bonuses before filing bankruptcy because Chapter 11 rules restrict the payment of such awards during a restructuring.Shares of Spirit fell 51% in postmarket trading Friday to $0.60 as of 4:20 p.m. in New York.Spirit’s previous bankruptcy in November of last year cut about $795 million in debt from its balance sheet and required bondholders to inject additional capital into the business.The new funds were used to support initiatives to attract more flyers by diverting from its bare-bone fare model by offering customers more perks. (Updates to add Spirit’s assertion that the lease terminations were invalid in the second paragraph. A previous version corrected Cromer’s bonus amount to $1.2 million from $1.9 million.)Most Read from Bloomberg BusinessweekMonchhichi Makes a Comeback Amid Labubu CrazeYoung European Backpackers Are Being Lured to Australia for Mining JobsAs Bushmeat Consumption Grows, Nigerian Doctors Fear OutbreaksHow Bombas Built a Fancy Socks Empire With $500 Million in SalesYosemite Workers Vote to Unionize©2025 Bloomberg L.P.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,460.26 -41.60 (-0.64%)Dow 3045,544.88 -92.02 (-0.20%)Nasdaq21,455.55 -249.61 (-1.15%)Russell 20002,366.42 -11.99 (-0.50%)VIX15.36 +0.93 (+6.44%)Gold3,516.10 +41.80 (+1.20%)PortfolioSign in to access your portfolioSign inTop gainersAMBA Ambarella, Inc. 82.48 +11.85 (+16.78%)IREN IREN Limited 26.48 +3.44 (+14.93%)BABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)AFRM Affirm Holdings, Inc. 88.46 +8.47 (+10.59%)DOOO BRP Inc. 62.98 +5.49 (+9.55%)Top losersMRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)CHA Chagee Holdings Limited 19.11 -2.89 (-13.14%)RMBS Rambus Inc. 73.77 -7.32 (-9.03%)DELL Dell Technologies Inc. 122.15 -11.90 (-8.88%)BLSH Bullish 59.03 -5.40 (-8.38%)Most activeWBA Walgreens Boots Alliance, Inc. 11.98 0.00 (0.00%)OPEN Opendoor Technologies Inc. 4.4500 +0.1800 (+4.22%)NVDA NVIDIA Corporation 174.18 -5.94 (-3.30%)LCID Lucid Group, Inc. 1.9800 -0.0900 (-4.35%)MRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersETH-USD Ethereum USD 4,472.32 +89.19 (+2.03%)DNUT Krispy Kreme, Inc. 3.5500 -0.0150 (-0.42%)BTC-USD Bitcoin USD 108,841.74 +335.95 (+0.31%)OKLO Oklo Inc. 73.64 -4.25 (-5.46%)SCHD Schwab U.S. Dividend Equity ETF 27.92 +0.10 (+0.36%)Top economic eventsPowered by Money.com - Yahoo may earn commission from the links above.