From CNBC: 2024-10-18 16:32:17

Spirit Airlines has extended debt refinancing to December, drawing down $300 million in credit to end the year with $1 billion in liquidity. Talks with bondholders continue. Stock hit a new low, closing at less than $1.50 per share as the Miramar-based airline struggles with furloughs, schedule cuts, and grounded planes due to a Pratt & Whitney engine recall. The planned acquisition by JetBlue was blocked on antitrust grounds, causing shares to plummet over 90% this year and nearly 40% in October alone. Reports suggest a potential bankruptcy filing in the near future.



Read more at CNBC: Spirit Airlines extends debt refinancing deadline hours before expiration