Spirit Aviation Holdings Inc's Business Segments

Spirit Aviation Holdings, Inc. and its consolidated subsidiaries operate as a low-fare airline carrier headquartered in Dania Beach, Florida. In 2025, Spirit served 89 destinations across 16 countries in the United States, Latin America, and the Caribbean, supported by an all-Airbus fleet. The company was originally founded in 1964 as Clippert Trucking Company, transitioned to air charter operations in 1990, and adopted the Spirit Airlines, Inc. name in 1992. Spirit underwent several corporate changes, including a Chapter 11 bankruptcy filing in November 2024. The company emerged from bankruptcy in March 2025, completing a corporate reorganization that established Spirit Aviation Holdings, Inc. as the new parent company. Spirit operates under the Securities Exchange Act of 1934 and maintains transparency through SEC filings. Its corporate structure includes subsidiaries formed in 2020, such as Spirit Finance Cayman 1 Ltd., Spirit Finance Cayman 2 Ltd., Spirit IP Cayman Ltd., and Spirit Loyalty Cayman Ltd., which serve various financial and operational roles. Following its emergence from bankruptcy, Spirit uses fresh start accounting to reflect the fair value of its assets and liabilities as of the reorganization date.

The Company operates a single reportable segment focused on providing air transportation services to passengers. The Chief Operating Decision Maker (CODM) evaluates consolidated operating income (loss) for resource allocation and performance assessment. The Company is managed as one business unit offering passenger air transportation. Operating revenues are attributed to geographic regions based on the origin and destination of each passenger flight segment, primarily categorized as DOT—Domestic and DOT—Latin America. The Company's tangible assets primarily consist of flight equipment, which are mobile across geographic markets and are not allocated by region.