Spirit Airlines has reached a significant agreement with its creditors that paves the way for the airline to exit Chapter 11 bankruptcy, targeting an exit by summer. As part of its restructuring efforts, Spirit plans to reduce its fleet and flight operations significantly while focusing on repositioning itself within the air-travel market. The measures include selling off 20 aircraft and recalling a number of flight attendants. Despite the cuts, the airline is optimistic about its future and hopes to adapt to new travel trends as it endeavors to survive past financial challenges. This deal provides a lifeline for the airline, thus averting immediate closure threats.