Spirit Airlines secures $100 million in bankruptcy funding
Dec 15 (Reuters) - Spirit Aviation FLYYQ.PK said on Monday it has secured $100 million in bankruptcy financing, as the ailing carrier works on a restructuring plan.
In August, the parent company of Spirit Airlines filed for bankruptcy for a second time after struggling with dwindling cash reserves and mounting losses.
As part of a broader cost-cutting initiative, Spirit has also been shedding jobs, trimming routes and scaling back operations. The company has already exited 14 airports and rejected leases for over 80 aircraft.
The ultra-low-cost carrier said on Monday that its flights, ticket sales and other operations would continue as usual.
Spirit can tap into $50 million immediately, with access to the remainder tied to restructuring talks or a potential deal.
The carrier did not disclose the source of the funding.
Aviation-focused outlet The Air Current reported on Friday that rival airlines were preparing to capitalize on Spirit's routes, if the carrier is forced to shut down.
Related Articles
Elon Musk’s SpaceX Poised for Record-Breaking IPO: How Can Retail Investors Get In on the Action of Starlink Stock?
TradingKey - Elon Musk's rocket manufacturer SpaceX is expected to launch an IPO in 2026, with a target IPO valuation projected to reach $1.5 trillion. However, prior to its listing, the stock can only be traded in the private market, characterized by low information transparency and high capital ba
Cathie Wood Predicts Bitcoin Has Bottomed. Is Now The Best Time to Buy? How to Buy BTC?
Purchasing Bitcoin is generally divided into three stages: pre-transaction, during transaction, and post-transaction. Each stage requires careful attention, as losses can easily arise from operational errors, pitfalls, and other factors.
Musk’s Next Ambition: Building a Space-Based AI Data Center
TradingKey - Musk has long resisted the idea of taking SpaceX public. After the Tesla take-private drama and the resulting SEC penalties (which cost him the chairmanship), he’s been wary of public market entanglements. But something’s changed—and fast.
Japan Central Bank Rate Hike To Three-Decade High Imminent, How Will The Market Go? Which Assets Most Affected?
As global monetary policy divergence enters a critical phase, the Bank of Japan (BoJ) is anticipated to raise its benchmark interest rate at the monetary policy meeting on December 19, 2025, by 25 basis points to 0.75% , marking its highest level in nearly 30 years.
