Spirit Airlines Sells 25 Aircraft for $668 Million in Sale-Leaseback Deal to Boost Liquidity
Spirit Airlines is taking significant measures to address its severe financial difficulties. The carrier has finalized a sale-and-leaseback agreement with Jackson Square Aviation for 25 aircraft, a deal generating $668 million in cash proceeds. This strategic move is intended to bolster the airline's liquidity as it navigates the fallout from the blocked JetBlue merger. Despite the cash injection, Spirit continues to face challenges, including ongoing financial losses and operational disruptions from grounded planes. This transaction is a critical effort to stabilize its finances amid persistent concerns about a potential bankruptcy.
Official Source: https://moneywise.com/news/top-stories/spirit-airlines-bankruptcy-aircraft-sale-668-million
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