Citadel and Other Spirit Bondholders to Decide if Airline Survives Bankruptcy

Ken Griffin’s Citadel and other Spirit Aviation bondholders will likely dictate whether the budget airline survives bankruptcy or shuts down, a labor union representing its pilots said Tuesday.

Spirit’s bondholders are deciding whether to continue funding the company, a critical decision that could determine if the company successfully restructures or is forced to liquidate, the labor union said in an open letter. The letter was signed by Air Line Pilots Association President Jason Ambrosi and Ryan Muller, chairman of a labor union representing Spirit pilots. Creditors took control of the Dania Beach, Florida-based airline following an earlier Chapter 11 filing in late 2024.