Spirit gains fresh $100 million to continue flying through bankruptcy

Spirit gains fresh $100 million to continue flying through bankruptcy

South Florida-based Spirit Airlines disclosed it received another $100 million in short-term financing to continue flying as it restructures in Chapter 11 bankruptcy.

Spirit Airlines gets $50 million lifeline and more time from creditors

An eleventh-hour reprieve from creditors allowed Spirit Airlines to secure $50 million and avoid a sudden shutdown that The Air Current reported several competitors were preparing for as soon as this past weekend with the arrival of a key milestone as part of its ongoing bankruptcy reorganization. The Dec. 13 financing milestone was closely-watched by other U.S. airlines and Spirit stakeholders. Two of the carrier’s direct competitors — who have…

Spirit Airlines gets immediate $50mn in DIP funding

Spirit Airlines (NK, Fort Lauderdale International) secured a funding lifeline from creditors on December 15, comprising USD50 million available immediately and another USD50 million "subject to previously agreed conditions that relate to further progress on a standalone plan of reorganisation or a strategic transaction." "We are grateful to our lenders for continuing to support Spirit's transformation, recognizing all the significant progress o…

Spirit Airlines Survives Crunch Weekend After Securing $50 Million Lifeline

Spirit Airlines has survived to fight another day after the embattled and heavily debt-laden budget carrier secured a $50 million lifeline at the eleventh hour. The new funding came at the end of a crunch weekend, during which at least two major rivals had started prepping contingency plans just in case the airline suddenly ceased… The post Spirit Airlines Survives Crunch Weekend After Securing $50 Million Lifeline appeared first on PYOK.

Spirit Receives Additional Funding to Continue Operations - ATX Jetsetter

Spirit Airlines has received additional funding after amending its debtor-in-possession (DIP) credit agreement. The post Spirit Receives Additional Funding to Continue Operations appeared first on ATX Jetsetter.

Spirit Airlines Gets $100 Million Lifeline, Will Keep Flying

It’s been a rough few weeks for Spirit Airlines, which is in the midst of a financial crisis that has led to 2 bankruptcies. There were also rumors the airline would miss a critical debt repayment over the weekend and potentially shut down. But there’s a bright spot today: The airline has worked out an agreement with its creditors to access millions in much-needed cash as it works to stay afloat. Here’s what this means for travelers. Spirit Work…