A bankruptcy court approved debtor-in-possession financing and the rejection of multiple lessor leases, allowing Spirit Airlines to continue flying while it completes Chapter 11 restructuring. Reports cite a facility of up to $475 million with a $200 million immediate draw, and AerCap will assume certain cancelled Airbus orders after Spirit rejected dozens of leases.
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The court-approved DIP provides immediate liquidity — including a reported $200 million draw within an up-to-$475 million facility — giving Spirit runway to operate during restructuring and preventing near-term network disruption (see the financing package).
The ruling clears Spirits rejection of dozens of leases and shifts Airbus commitments off its balance sheet, with AerCap taking on orders and options and the carrier set to retire or remove nearly 100 jets from service (see the lease rejections and the Airbus order transfer).
Reported By
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(TR) Spirit Remains Afloat in Bankruptcy: $475 Million Support Approved • airnewstimes.com
Spirit Airlines gets court approval for up to $475m DIP financing • Airport Technology
Spirit Secures $475 Million Financing and Wins Court Approval for AerCap Deal • thebulkheadseat.com
Spirit Airlines Secures Funding to Continue Operations Amid Bankruptcy • Aviation.travel
Spirit Airlines Gets $475M DIP Financing Approved to Keep Operations Running • Airways Magazine
(DE) Spirit Airlines receives $475 million financial boost | aeroTELEGRAPH • aerotelegraph.com
Spirit Airlines Secures Bankruptcy Financing, Will Continue Operations • Aviation.travel
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• Daniel Martinez Garbuno