Spirit Airlines and its bondholders are recruiting advisers to negotiate over the company’s debt of over USD1bn due in 2025 and 2026.
Bondholders have sought legal advice from Akin Gump Strauss Hauer & Feld and investment banking advice from Evercore.
Spirit Airlines is seeking advice from Davis Polk & Wardwell and Perella Weinberg.
The majority of Spirit Airlines’ 8pc notes due in 2025 are held by the bondholders, and concerns over the company’s financial position following a blocked acquisition by JetBlue Airways have prompted the creditors to act. Spirit is also facing difficulties due to the grounding of some of its aircraft.
