Officials with the Arnold Palmer Regional Airport are confident the sole airline that operates out of Latrobe will come out of bankruptcy stronger than ever.
Spirit Airlines announced yesterday that the company has filed for chapter 11 bankruptcy. Officials said that the airline has struggled with losses as of late, along with growing debt and the failed merger of Spirit and JetBlue. Ticket sales and other operations are expected to continue as normal. The company has secured a prearranged deal with bondholders to get $300 million to keep the business going.
At a recent meeting of the Westmoreland County Airport Authority, executive director Gabe Monzo said that the announcement was expected, but with the news that business will continue normally, he is confident that when the company emerges from chapter 11 bankruptcy protection, they will be better and stronger financially.
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