Spirit Airlines has recently announced an amendment to its debtor-in-possession (DIP) credit agreement, securing an additional $100 million in funding. This modification, agreed with its senior secured noteholders, aims to bolster the airline’s restructuring efforts.

The alteration permits Spirit to access $50 million immediately, while the remaining funds will be allocated contingent on further advancements in its reorganization plan or a strategic transaction, with Spirit actively engaging in negotiations for both.

Dave Davis, Spirit’s President and CEO, expressed his gratitude towards the lenders, stating, “We are grateful to our lenders for continuing to support Spirit’s transformation, recognizing all the significant progress our team has made in recent months.” He highlighted the airline’s commitment to providing high-value travel options, especially as it welcomes guests during the holiday season and beyond.

Recently, Spirit’s pilots and flight attendants ratified new agreements that endorse the company’s future direction. Over the past two months, Spirit has repositioned its fleet and enhanced its cost structure. The airline continues to focus on improving its product offerings to ensure they provide compelling value without sacrificing operational excellence. Davis acknowledged the contributions of the Spirit team, noting, “I want to thank our pilots, flight attendants, and the entire Spirit team for taking such great care of our guests and continuing to deliver a world-class operation we all take pride in.”

Spirit Airlines remains committed to offering affordable travel experiences across the United States, Latin America, and the Caribbean with its all-Airbus fleet. Further details about the restructuring process can be found on Spirit’s official website.