Spirit Aviation Holdings, Inc. — Cyborg Score 1/10
Challenged
US airline passenger transportation
Strategic Profile
On August 29, 2025, Spirit Aviation Holdings, Inc. along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The stock trades on the OTC Pink Limited Market under "FLYYQ," with the filing stating that any trading in the common stock is highly speculative and that no recovery is expected for existing shareholders in the Chapter 11 cases, meaning current equity is expected to be wiped out.
Cyborg Score Rationale
Spirit Airlines ceased operations after surging jet fuel prices and a failed federal bailout left the company with no remaining way out of bankruptcy, with the airline ceasing operations on May 2, 2026. The company is beginning an orderly wind-down of operations, has cancelled all Spirit Airlines flights effective immediately, and expects holders of its common stock to experience a complete loss on their investment.
Top Insights
In 2025, Spirit Aviation Holdings's revenue was $3.80 billion, a decrease of -22.73% compared to the previous year's $4.91 billion.
The company employed 7,482 people (as of 2025), with losses of -$2.76 billion, 124.5% more than in 2024.
The company's NYSE American listing was revoked in 2025, and the stock now trades on the OTC Pink Limited Market.
The stock's 52-week range spans from $0.01 USD to $5.19 USD, having fallen from an all-time high of $13.00 on April 29, 2025.
Named Competitors
Frontier Airlines — Ultra-low-cost carrier serving North America
Allegiant Air — Ultra-low-cost carrier with focus on leisure travel
(August 2025) Filed voluntary Chapter 11 bankruptcy petition in U.S. Bankruptcy Court for the Southern District of New York
(May 2026) Ceased all flight operations following failed federal bailout attempt and inability to secure additional funding due to surging jet fuel prices
(June 2026) Announced orderly wind-down of remaining operations; stock trading at penny-stock levels on OTC Pink Limited Market with no shareholder recovery expected
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