Spirit Airlines files Chapter 11 bankruptcy, a controversial art piece sells to a crypto bro for $6 million, and Milan is now home to the most expensive shopping street. All that and more in this week’s Five on Friday.
Spirit Airlines files for bankruptcy
Photo courtesy of Adobe Stock
Spirit Airlines has filed for Chapter 11 bankruptcy after years of financial losses, exacerbated by engine issues, rising competition, and a blocked merger with JetBlue Airways, reports The New York Times. This comes after Spirit Airlines CEO Ted Christie was paid a $3.8 million retention bonus a week before the filing. Despite carrying $9 billion in debt, the airline aims to continue operating while restructuring under court supervision. Flights, tickets, and loyalty points remain unaffected, with no major disruptions expected, especially during Thanksgiving travel. The company said it expected to exit the bankruptcy process in the first quarter of next year and insisted it would “emerge even better positioned” after the proceedings wrapped up. Spirit’s Chapter 11 filing is the first by a major airline in more than a decade.
The world’s most expensive shopping street is now in Milan
The Ferragamo women’s boutique found on Via Monte Napoleone in Milan; photo by Nicolò Panzeri
Milan’s Via Monte Napoleone has surpassed New York’s Fifth Avenue as the most expensive shopping street in the world, with rents reaching $2,047 per square foot due to high demand and limited space, writes CNN. This marks the first time a European city tops the rankings by Cushman & Wakefield. In April, Gucci’s parent company Kering paid $1.4 billion to acquire a building on Via Monte Napoleone. Chanel and Gucci have also opened new locations on the strip in the past year, which counts Hermès, Versace, Cartier, Bottega Veneta, and Celine among its other residents. London’s New Bond Street ranks third, followed by Hong Kong’s Tsim Sha Tsui and Paris’s Champs Élysées. Milan’s appeal—recently highlighted in our November issue, guest edited by designer Tara Bernerd—is fueled by luxury tourism, flagship stores, and tax incentives attracting high-net-worth individuals.
The viral duct-taped banana sells for $6.2 million
Maurizio Cattelan’s Comedian art piece was recently sold for $6.24 million; photo courtesy of Sotheby’s
Italian artist Maurizio Cattelan’s controversial banana duct-taped to a wall, dubbed Comedian, sold for $6.24 million by Sotheby’s, reports Artnet. Originally priced at $120,000-$150,000 in 2019, its value skyrocketed due to its viral fame. Crypto king Justin Sun purchased the piece, calling it a cultural phenomenon bridging art, memes, and the cryptocurrency community. “Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture,” Sun said. Despite its simplicity, the piece sparked debates about the meaning of art and elitism in the art world.
The trailblazing women in landscape architecture
The Fragrance Garden at the Brooklyn Botanic Garden in spring, designed by Alice Recknagel Ireys; photo by Michael Stewart and © Brooklyn Botanic Garden
ArchDaily goes long on the women who revolutionized landscape architecture. Throughout centuries, they have overcome gender barriers to shape the field with innovative ideas that balance aesthetics, sustainability, and community. Early pioneers like Beatrix Farrand and Ellen Biddle Shipman emphasized ecological harmony and intimate garden designs, laying the groundwork for future generations. In the mid-20th century, leaders such as Sylvia Crowe advanced urban planning and green infrastructure, while modern figures like Cornelia Hahn Oberlander tackled climate change through adaptive, eco-friendly designs.
Call for entries: Submissions to the 21st annual HD Awards are open
Daphne restaurant in Toronto, designed by Studio Paolo Ferrari, a winner in the Upscale Restaurant category at the 20th annual HD Awards; photo by Joel Esposito
It’s that time of year again! Project and product entries are now being accepted for consideration in the 21st annual HD Awards. Lauded as the most prestigious awards for the industry, the yearly event recognizes the best and most innovative achievements in design from around the globe, as well as the creative teams behind them. The deadline for entries is February 10th, 2025, and winners will be revealed at a ceremony on May 6th, 2025 at the Bellagio Hotel & Casino during HD Expo + Conference. Submit your projects and products today!
