Overview

• Spirit said existing bondholders will provide up to $475 million in debtor‑in‑possession financing, with $120 million available immediately and another $200 million expected upon court approval after an Oct. 10 hearing.
• AerCap agreed to pay $150 million as Spirit moves to reject leases on 27 Airbus jets, most tied to Pratt & Whitney engine inspections, and the settlement includes future delivery of 30 aircraft.
• The court approved Spirit’s request to terminate 12 airport leases and 19 ground‑handling agreements as part of the restructuring.
• Management has identified 40 route cuts and plans to furlough about one‑third of flight attendants, while seeking about $100 million in concessions from pilots.
• The airline entered a second Chapter 11 in late August after more than $250 million in losses following its March exit and is pursuing fleet, network and labor changes to stabilize operations.