Spirit Aviation Holdings, Inc., the parent company of Spirit Airlines, LLC, has received approval for a $475 million debtor-in-possession financing facility in bankruptcy court. $200 million is available immediately to support operations during restructuring. An agreement with AerCap Ireland Limited includes a $150 million payment, rejection of 27 aircraft leases, and resolution of disputes. This arrangement is expected to reduce operating costs by hundreds of millions of dollars and includes provisions for future aircraft delivery. Spirit is also engaging with other lessors for fleet optimization, focusing on operational efficiency and financial resilience.
Read more at Nasdaq: Spirit Aviation Secures Court Approval For $475 Mln DIP Financing And Agreement With AerCap