Spirit Aviation Holdings has reached an agreement with its senior secured noteholders to amend its debtor-in-possession (DIP) credit agreement, enabling the previously agreed third funding round of incremental financing totalling US$100 million to be completed on December 15.
Under the amended terms, US$50 million (net of original issue discount) is immediately available to the company. Access to the remaining amount remains subject to previously agreed conditions linked to further progress on either a standalone plan of reorganisation or a strategic transaction, both of which Spirit is currently actively pursuing.
The company indicated that continued support from its lenders reflects confidence in the transformation underway and the progress achieved by the management team in recent months. Spirit also reaffirmed its commitment to providing high-value travel options for American consumers and to maintaining strong operational performance through the holiday season and beyond.
Spirit highlighted further momentum in its restructuring efforts, noting that its Pilot and Flight Attendant groups ratified new labour agreements last week to support the airline’s future. Over the past 60 days, the company has significantly repositioned its fleet and improved its cost structure. It continues to develop a range of product offerings, from economical to premium, all designed to deliver compelling value while maintaining a top-tier operation.
