India, Feb. 21 -- Spirit Airlines, Inc. has announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company's Plan of Reorganization. With this confirmation, the Company anticipates emerging from Chapter 11 bankruptcy in the upcoming weeks.As part of the approved Plan, Spirit will convert $795 million of its funded debt into equity, secure a new equity investment of $350 million, and issue $840 million in aggregate principal amount of new senior secured debt to existing bondholders upon its emergence. Furthermore, Spirit will establish a new revolving credit facility of up to $300 million. Notably, Spirit's vendors, aircraft lessors, and holders of secured aircraft debt will not experience a...