Spirit Airlines has completed the Chapter 11 bankruptcy process, and is "emerging as a stronger and more focused airline," chief executive Ted Christie said Wednesday.

Spirit Airlines has officially exited Chapter 11 bankruptcy proceedings after shedding a large chunk of debt and receiving a new injection of cash from major creditors who supported its continued

U.S. carrier Spirit Airlines, long known for its no-frills service, said on Wednesday it was pushing ahead with plans to rebrand itself as a premium airline as it emerged from bankruptcy protection after four months.