23Feb, 25 Spirit Airlines’ restructuring plan approved by US bankruptcy court | News
[ad_1]
A US bankruptcy court has approved Spirit Airlines’ plan to reorganise through a Chapter 11 process and emerge with a stronger balance sheet.
Florida-based Spirit said on 20 February that US Bankruptcy Court for the Southern District of New York confirmed its plan, which includes equitising nearly $800 million of debt, an equity infusion of $350 million and the issuance of $840 million in new debt to bondholders.
”In addition, Spirit will enter into a new revolving credit facility of up to …