Reported about 1 month ago
Spirit Airlines has agreed to sell 23 Airbus aircraft for $519 million to enhance its cash flow as it faces potential bankruptcy. The sale will increase liquidity by about $225 million by the end of 2025 and comes as Spirit explores bankruptcy options to facilitate a merger with Frontier Group after a failed attempt to merge with JetBlue. Amidst a liquidity crisis, the airline is also implementing cost-cutting measures, including workforce reductions, which have led to a 10% rise in its stock price.
Source: YAHOO