Spirit Airlines has completed the Chapter 11 bankruptcy process, and is "emerging as a stronger and more focused airline," chief executive Ted Christie said Wednesday.

Spirit Airlines emerged from bankruptcy protection Wednesday with “significantly less debt and greater financial flexibility,” meeting its goal to complete a reorganization by the end of this quarter.

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