Spirit Airlines reached agreement in principle on key terms of restructuring support agreement with its secured creditors
Source: Spirit Airlines Emergence from Chapter 11 expected in late spring or early summer Spirit Aviation Holdings, Inc., parent company of Spirit Airlines, LLC ("Spirit" or the "Company"), has announced that Spirit has completed another significant milestone in its restructuring by reaching an agreement in principle on the key terms of a restructuring support agreement with its existing DIP lenders and secured noteholders. The agreement in principle will provide Spirit with the financial support needed to finalize its restructuring and complete the remaining changes necessary to optimize the Company's fleet, network and cost structure. Spirit intends to emerge from Chapter 11 in late spring or early summer as a strong low-cost, value-driven carrier offering Guests basic and premium products at [...]