Citadel Advisors, Pacific Investment Management Co. (Pimco), and Western Asset Management Co. are among the investment firms that will acquire stakes in Spirit Airlines Inc. after the airline's bankruptcy restructuring.

These firms are part of a group that holds Spirit's 8% senior secured notes due in 2025 and are supporting the company's restructuring plan, as stated in a recent court filing.

As part of the restructuring process, the senior secured notes and convertible bonds will be converted into equity once Spirit emerges from bankruptcy next year. This move aims to stabilize the financial position of the budget carrier and facilitate its recovery in the competitive airline industry.