(Reuters) – Spirit Airlines parent Spirit Aviation Holdings said on Wednesday that the low-cost carrier has successfully completed its financial restructuring.

The company said it has exited chapter 11 by finalizing a debt restructuring transaction approved by a U.S. bankruptcy judge in February.

The restructuring allows the budget airline to convert $795 million in debt to equity. Spirit also received a $350 million equity investment from existing investors, the company said.

(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Tasim Zahid)