On April 28, 2025, Spirit Aviation Holdings, Inc. announced its emergence from Chapter 11 bankruptcy that occurred on March 12, 2025, and detailed the appointments of directors Robert A. Milton and David N. Siegel, along with their equity incentive grants totaling 554,436 shares. The company also adopted a new compensation policy for non-employee directors including an annual retainer of $100,000 and additional bonuses for committee chairs.