Spirit Aviation Holdings, Inc. ( (FLYY) ) has released a notification of late filing.
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Spirit Aviation Holdings, Inc. has announced a delay in filing its Form 10-Q (Quarter Report) for the financial period ending March 31, 2025. The delay is primarily due to the company’s emergence from bankruptcy on March 12, 2025, which necessitates the application of ‘fresh start’ accounting. This complex process involves establishing a new successor reporting entity and determining new fair values for assets, liabilities, and equity. The company faces resource limitations and intricate calculations, contributing to the delay. Spirit Aviation Holdings anticipates filing the report by the end of May 2025. The company expects significant changes in financial results due to the fresh start accounting, but it cannot yet provide a reasonable estimate of these results. The notification is signed by Frederick S. Cromer, Executive Vice President and Chief Financial Officer, who assures ongoing compliance efforts.
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