Spirit Airlines parent Spirit Aviation Holdings said on Wednesday that the low-cost carrier has successfully completed its financial restructuring. The company said it has exited chapter 11 by finalizing a debt restructuring transaction approved by a U.

Spirit Airlines has officially exited Chapter 11 bankruptcy proceedings after shedding a large chunk of debt and receiving a new injection of cash from major creditors who supported its continued

The South Florida-based company says it has shed a lot of debt and has received more than $350 million in equity investment.