Spirit Aviation Holdings, Inc. Announces Receipt of NYSE American Delinquency Notification
Spirit Aviation Holdings (NYSE: FLYY) has received a notice from NYSE Regulation on May 20, 2025, indicating non-compliance with NYSE American's continued listing standards due to delayed filing of its Q1 2025 Form 10-Q. The delay, explained in a Form 12b-25 filing on May 12, is attributed to additional work required for implementing "fresh start" accounting following the company's emergence from bankruptcy in Q1 2025.
The company expects to file the Form 10-Q and regain compliance by the end of May 2025. While the notice doesn't immediately affect FLYY's listing status, it highlights ongoing challenges as the company works to return to profitability through changes in fleet, product, and market positioning.
Spirit Aviation Holdings (NYSE: FLYY) ha ricevuto una comunicazione da NYSE Regulation il 20 maggio 2025, che segnala il mancato rispetto degli standard di quotazione continua di NYSE American a causa del ritardo nella presentazione del modulo 10-Q relativo al primo trimestre 2025. Il ritardo, spiegato in un modulo 12b-25 presentato il 12 maggio, è dovuto al lavoro aggiuntivo necessario per l'implementazione della contabilità "fresh start" a seguito dell'uscita dell'azienda dalla bancarotta nel primo trimestre 2025.
L'azienda prevede di presentare il modulo 10-Q e di ristabilire la conformità entro la fine di maggio 2025. Sebbene la comunicazione non influisca immediatamente sullo stato di quotazione di FLYY, evidenzia le sfide in corso mentre la società lavora per tornare alla redditività attraverso cambiamenti nella flotta, nei prodotti e nel posizionamento sul mercato.
Spirit Aviation Holdings (NYSE: FLYY) recibió un aviso de NYSE Regulation el 20 de mayo de 2025, indicando incumplimiento con los estándares continuos de cotización de NYSE American debido a la presentación tardía del Formulario 10-Q del primer trimestre de 2025. El retraso, explicado en una presentación del Formulario 12b-25 el 12 de mayo, se atribuye al trabajo adicional requerido para implementar la contabilidad de "fresh start" tras la salida de la empresa de la bancarrota en el primer trimestre de 2025.
La compañía espera presentar el Formulario 10-Q y recuperar el cumplimiento para finales de mayo de 2025. Aunque el aviso no afecta inmediatamente el estado de cotización de FLYY, resalta los desafíos continuos mientras la empresa trabaja para volver a la rentabilidad mediante cambios en la flota, producto y posicionamiento en el mercado.
Spirit Aviation Holdings (NYSE: FLYY)는 2025년 5월 20일 NYSE Regulation으로부터 NYSE American의 지속 상장 기준 미준수 통지를 받았습니다. 이는 2025년 1분기 Form 10-Q 제출 지연에 따른 것입니다. 5월 12일 제출된 Form 12b-25에서 설명된 이 지연은 회사가 2025년 1분기 파산에서 회복한 후 "fresh start" 회계 적용을 위해 추가 작업이 필요했기 때문입니다.
회사는 2025년 5월 말까지 Form 10-Q를 제출하고 준수 상태를 회복할 것으로 예상합니다. 이 통지는 즉시 FLYY의 상장 상태에 영향을 미치지 않지만, 회사가 항공기, 제품 및 시장 포지셔닝 변화를 통해 수익성 회복을 위해 노력하는 과정에서 지속적인 어려움을 보여줍니다.
Spirit Aviation Holdings (NYSE : FLYY) a reçu un avis de NYSE Regulation le 20 mai 2025, indiquant un non-respect des normes de cotation continue de NYSE American en raison du retard dans le dépôt de son formulaire 10-Q du premier trimestre 2025. Ce retard, expliqué dans un dépôt du formulaire 12b-25 le 12 mai, est attribué au travail supplémentaire nécessaire pour mettre en œuvre la comptabilité « fresh start » suite à la sortie de l'entreprise de la faillite au premier trimestre 2025.
La société prévoit de déposer le formulaire 10-Q et de rétablir sa conformité d'ici la fin mai 2025. Bien que cet avis n'affecte pas immédiatement le statut de cotation de FLYY, il souligne les défis persistants alors que l'entreprise s'efforce de retrouver la rentabilité à travers des changements dans la flotte, les produits et le positionnement sur le marché.
Spirit Aviation Holdings (NYSE: FLYY) erhielt am 20. Mai 2025 eine Mitteilung von NYSE Regulation, die auf die Nichteinhaltung der fortlaufenden Notierungsanforderungen der NYSE American aufgrund der verspäteten Einreichung des Formulars 10-Q für das erste Quartal 2025 hinweist. Die Verzögerung, erläutert in einer Einreichung des Formulars 12b-25 am 12. Mai, ist auf zusätzlichen Aufwand zur Umsetzung der "Fresh Start"-Bilanzierung nach dem Austritt des Unternehmens aus der Insolvenz im ersten Quartal 2025 zurückzuführen.
Das Unternehmen erwartet, das Formular 10-Q bis Ende Mai 2025 einzureichen und die Einhaltung wiederherzustellen. Obwohl die Mitteilung den Notierungsstatus von FLYY nicht sofort beeinträchtigt, verdeutlicht sie die anhaltenden Herausforderungen, während das Unternehmen durch Änderungen in Flotte, Produkt und Marktpositionierung an der Rückkehr zur Profitabilität arbeitet.
- Company expects to file Form 10-Q and regain compliance by end of May 2025
- Stock continues to trade on NYSE American during compliance period
- Successfully emerged from bankruptcy process in Q1 2025
- Non-compliance with NYSE American listing standards due to delayed Q1 2025 filing
- Company still working to return to profitability post-bankruptcy
- Implementation of 'fresh start' accounting causing reporting delays
DANIA BEACH, Fla., May 27, 2025 /PRNewswire/ -- On May 20, 2025, Spirit Aviation Holdings, Inc. (NYSE American: FLYY) (the "Company") received a written notice from NYSE Regulation (the "Notice") stating that the Company is not in compliance with the continued listing standards of the NYSE American LLC ("NYSE American", or the "Exchange"), due to its delayed filing of the SEC Form 10-Q for the period ended March 31, 2025 by the filing due date of May 19, 2025.
On May 12, 2025, the Company filed with the SEC a Notification of Late Filing on Form 12b-25 which noted that the late filing of the Form 10-Q would occur because of the substantial additional work required to implement so-called "fresh start" accounting in the financial statements included in the quarterly report, reflecting the Company's emergence from its bankruptcy process in the first quarter 2025. As stated in the Form 12b-25, the Company intends to file the Form 10-Q by or before the end of May 2025 and thereby regain compliance with Exchange listing standards. The Notice has no immediate effect on the listing of the Company's shares of common stock on NYSE American. The Company's shares of common stock will continue to trade on NYSE American while it regains compliance with Exchange listing standards.
The Company continues to develop and implement the changes to its business necessary to return to profitability. "While there's lots to do, I'm pleased with our progress in driving change to our fleet, our product and our market positioning. The Spirit team has faced down tough challenges before, and I'm gratified to see such a strong focus and commitment," said Dave Davis, President and Chief Executive Officer.
About Spirit Airlines
Spirit Airlines (NYSE American: FLYY) is committed to safely delivering the best value in the sky by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations throughout
Cautionary Statement Regarding Forward-Looking Statements
This press release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") which are subject to the "safe harbor" created by those sections. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. All statements other than statements of historical facts are "forward-looking statements" for purposes of these provisions. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "project," "predict," "potential," and similar expressions intended to identify forward-looking statements. Forward-looking statements include, without limitation, the Company's ability to regain compliance with the continued listing standards of NYSE American. Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Factors include, among others, ongoing global political and economic uncertainty, the impact of the Company's emergence from chapter 11, the Company's ability to refinance, extend or repay its near and intermediate term debt, the Company's substantial level of indebtedness and interest rates, the potential impact of volatile and rising fuel prices and impairments and other factors discussed in the Company's Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the SEC and other factors, as described in the Company's filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10- K for the fiscal year ended December 31, 2024. Furthermore, such forward-looking statements speak only as of the date of this release. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. Risks or uncertainties (i) that are not currently known to us, (ii) that we currently deem to be immaterial, or (iii) that could apply to any company, could also materially adversely affect our business, financial condition, or future results. Additional information concerning certain factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
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SOURCE Spirit Airlines
FAQ
Why did Spirit Aviation (FLYY) receive a NYSE American delinquency notice in May 2025?
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