Spirit Airlines parent Spirit Aviation Holdings said on Wednesday that the low-cost carrier has successfully completed its financial restructuring.

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

Spirit Airlines said on Wednesday that it had successfully emerged from bankruptcy, exiting a major corporate restructuring five months after first filing for bankruptcy.

Spirit Aviation Holdings, the parent company of Spirit Airlines said on Wednesday that the low-cost carrier has successfully completed its financial restructuring. (Reporting by Aatreyee Dasgupta in Bengaluru;

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.