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Spirit Airlines Ends Airbus Deal in Bankruptcy Settlement with Aercap (saveq:Otcmkts)
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3 Articles
Spirit Airlines ends Airbus deal in bankruptcy settlement with AerCap
Spirit Airlines wins court approval for $475M financing and AerCap settlement
Spirit Airlines has secured US Bankruptcy Court approval for a $475 million debtor-in-possession financing facility and a key settlement with its largest aircraft lessor, AerCap. The approvals mark a major step in the airline’s ongoing Chapter 11 restructuring. The financing is provided by Spirit’s existing bondholders, with $200 million immediately accessible to support operations during the reorganization. Under the approved agreement with A…
Under the supervision of the US bankruptcy court, Spirit Airlines has formally renounced an order for 52 Airbus aircraft and options for an additional ten aircraft. These aircraft will now be taken over by the Irish leaser AerCap, as part of a broader settlement aimed at ending a financial dispute that has precipitated the company into its second bankruptcy in a year. The Federal Bankruptcy Court of the South District of New York validated on Fr…
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