Comment on Spirit Airlines gains $300 million in financing pledges for post-Chapter 11 flying

Spirit Airlines gains $300 million in financing pledges for post-Chapter 11 flying

Spirit Airlines lenders have committed another $300 million in financing for the Dania Beach-based airline — money intended to fuel the discount carrier’s operations after it departs from bankruptcy court. The airline “has secured a commitment from certain of its prepetition debtholders” to lend more money for working capital and “other corporate needs of the company” after it exits Chapter 11 bankruptcy proceedings, management said in a filing late last week with the Securities and Exchange Commission. The commitments came as Spirit put the finishing touches on a cost-cutting program that has resulted in workforce cutbacks that affect several hundred pilots and 200 support workers.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More U.s. News