Spirit Airlines secures $300m financing infusion for post-bankruptcy operations | News
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US discounter Spirit Airlines has secured an additional $300 million in financing from debt holders as it prepares to exit Chapter 11 bankruptcy proceedings.
The struggling Miramar, Florida-based ultra-low-cost carrier (ULCC) disclosed in a 16 January filing with the US Securities and Exchange Commission that the “exit revolving credit facility” will be available to draw upon once it emerges from financial restructuring.
“The company’s use of the proceeds… shall include, among other items, working capital and other general corporate needs of the …