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A Spirit Airways flight arrives at Arnold Palmer Regional Airport in Westmoreland County, Pennsylvania, U.S., September 18, 2025.
Quinn Glabicki | Reuters
Spirit Airways received approval for a $475 million lifeline and a $150 million fee from its greatest plane lessor in court docket on Friday, because the struggling price range airline races to stabilize itself after its second chapter since November.
U.S. Chapter Court docket for the Southern District of New York accepted the $475 million in debtor-in-possession financing, a lifeline that bankrupt corporations can use to proceed working, together with $150 million from AerCap and the rejection of 27 airplane leases. Spirit mentioned on Friday that $200 million could be instantly accessible for the service.
Spirit has been reducing dozens of routes, introduced plans to slash its fleet, and final month mentioned it might furlough about one third of its flight attendants to chop prices. The airline is in talks with its pilots’ union and is looking for about $100 million in cuts from that group.
“We’re happy to have reached one other important milestone in our restructuring, which represents continued progress towards securing a profitable future for Spirit,” Spirit CEO Dave Davis mentioned in a information launch Friday.
Spirit’s issues piled up in recent times: An engine recall, a failed acquisition by JetBlue, a soar in labor and different prices, and a shift in client tastes for extra upmarket choices.
Spirit has spent greater than a 12 months making an attempt to supply vacationers roomier seats and different fare packages past a budget tickets and a la carte add-ons like seat choice and cabin baggage that it has been identified for for years.
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