Spirit Airlines (NK, Fort Lauderdale International) has filed for voluntary prearranged Chapter 11 restructuring with the support of a supermajority of its bondholders. The low-cost carrier already received “backstopped” commitments for a USD350 million equity investment from bondholders and a further USD300 million in debtor-in-possession (DIP) financing.

“We have reached an agreement with a supermajority of both our loyalty and convertible bondholders on a comprehensive recapitalisation of the company, which is a…

Source: ch aviation
Read more: Spirit files for Chapter 11 with bondholders' support