Prearranged deal: After years of losses, a failed merger and demanding consumer tastes, Spirit Airlines has filed for bankruptcy protection. The carrier on Monday said it reached a prearranged deal with its bondholders including $300 million in debtor-in-possession financing to help it through the bankruptcy, which it expects to exit in the first quarter of next year. It said vendors and aircraft lessors will not be impaired. Spirit listed its assets and liabilities between $1 billion and $10 billion, in a court filing. Read more from CNBC.
What to watch: The Commerce Department will release data on Tuesday that will provide more insight into the health of the housing market. Industry analysts forecast that homebuilders broke ground on a seasonally adjusted 1.34 million new homes in October, or slightly less than September’s figure. The National Association of Realtors also gives its latest update on home sales on Thursday. See more from the Associated Press.
Luncheon speaker: Mike Manning, president and CEO of the Greater Baton Rouge Food Bank, will be the guest speaker today at the Press Club of Baton Rouge. Manning will discuss food demand during the upcoming holiday season and on the need for a food bank at other times of the year. The Press Club meets on Mondays in the ballroom at Drusilla Place Catering, with doors opening at 11:30 a.m. and the program beginning at 12:15 p.m. See more about the event.
