Citadel and Other Spirit Bondholders to Decide if Airline Survives Bankruptcy

The involvement of major bondholders like Citadel in Spirit Aviation's bankruptcy process underscores the increasing influence of financial institutions in the operational decisions of airlines. The potential for these stakeholders to either support a restructuring plan or push for liquidation reflects broader trends in the aviation sector, where financial health is often precarious. This scenario raises questions about the balance of power between investors and labor, particularly in industries heavily impacted by economic fluctuations.