Overview
- CNBC reports Spirit is discussing a possible takeover with Castlelake, with no agreement in place and no public comment from the parties.
- Spirit remains in Chapter 11 after an August filing, pursuing either a standalone reorganization or a strategic transaction per its December update.
- An amended creditor deal delivered $50 million in immediate funding in mid-December, with additional support contingent on demonstrable progress.
- Labor groups granted about $100 million in concessions as Spirit cut flights, reduced its fleet and eliminated jobs to conserve cash.
- Castlelake has deep aviation financing experience and last summer launched Merit AirFinance with roughly $1.8 billion to deploy, while recent talks with Frontier did not yield a merger and a federal judge blocked JetBlue’s bid two years ago.