Spirit Airlines has secured up to USD300m in financing from certain prepetition debtholders contingent upon exiting Chapter 11, according to a Securities Exchange Commission filing dated January 16, 2025.
As part of its restructuring, the airline will eliminate approximately 200 non-unionised positions primarily in management and administration to align with its current operational scale.
Spirit Airlines, which employed over 11,650 people in November 2024, is undergoing significant changes, including the retirement of its last A319-100 and approval to sell twenty-three aircraft to generate around USD520m.
The airline filed for Chapter 11 in November following an unsuccessful attempt to merge with JetBlue Airways and aims to emerge from this process later this quarter.
