Spirit secures new financial lifeline
Spirit Airlines has secured another tranche of funding.
Part of a $100 million cash injection, $50 million is now available to the airline now.
The airline says it is still working through its reorganization plan while still open to a strategic transaction.
“We are grateful to our lenders for continuing to support Spirit’s transformation, recognizing all the significant progress our team has made,” said Dave Davis, Spirit’s CEO.
“We continue to provide high-value travel options, which benefit American consumers whether they fly with us or not.”
The airline says it is confident it can return to an operating profit by 2027.
It has cut routes and significantly downsized its fleet, while securing labor agreements with pilots and cabin crew.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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