​Spirit Air Squeezes Higher On Key Debt Deadline Extension & Cash Boost, Averting Bankruptcy – Tyler Durden

Spirit Air Squeezes Higher On Key Debt Deadline Extension & Cash Boost, Averting Bankruptcy Shares of Spirit Airlines soared in premarket trading in New York after the carrier reached an agreement with the US Bank National Association to extend a debt-refinancing deadline to the end of 2024. The budget carrier also drained a revolving credit facility for hundreds of millions of dollars, shoring up its balance sheet while delaying an imminent threat of bankruptcy. Spirit wrote in an 8-K filing that the deadline for refinancing $1.1 billion in debt had been pushed from Monday to Dec. 31. The refinancing is critical because it will determine…  — Continue at ZeroHedge News : Read More