SPIRIT FINDS A “LIFELINE” IN SECOND BANKRUPTCY PROCEEDING
November 24, 2025
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On October 10, 2025, the United States Bankruptcy Court for the Southern District of New York granted approval for Spirit to receive up to $475 million in debtor-in-possession financing and a $150 million payment from AerCap, the carrier’s primary aircraft lessor. Back in bankruptcy court for the second time in less than a year, Spirit needs as much help as possible at a time when the carrier has slashed routes, sold aircraft assets, and furloughed flight attendants. Spirit also rejected 27 aircraft leases during recent bankruptcy proceedings to decrease the carrier’s debt obligations and restore financial stability. A merger or sale of Spirit’s remaining assets could be a possibility due to changing political winds since the Biden administration successfully blocked JetBlue’s acquisition of the carrier last year.
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