Spirit Airlines finalises agreement with DIP lenders for USD475m in term loans
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Background ✨
Spirit Airlines received court approval for the USD475 million debtor-in-possession financing facility, with USD200 million available immediately and the remainder to be disbursed in several tranches. The facility was part of Spirit's Chapter 11 restructuring and aimed to support ongoing operations. Additionally, Spirit reached an agreement with AerCap involving a USD150 million payment and lease reductions to lower operating costs and resolve disputes between the parties1 2.