Spirit Airlines is working on revitalizing the airline, securing up to $475 million in debtor-in-possession financing and $150 million from an aircraft lessor. The carrier recently filed for its second Chapter 11 bankruptcy due to losses. Plans include cutting routes, furloughing flight attendants, and negotiating cost cuts with pilots.

The airline is planning to reject leases on 27 Airbus aircraft and cut airport leases and ground handling agreements to reduce costs. If approved, $200 million in financing will be immediately available. Spirit’s CEO expressed gratitude for stakeholders’ support during the restructuring, aiming to provide high-value travel options for consumers.

Read more at CNBC: Spirit Airlines touts ‘massive progress’ in bankruptcy