Throwing good money after bad……

Spirit to start tapping $475 million in new bankruptcy financing

Spirit Aviation Holdings Inc. won bankruptcy court permission to start tapping 
$475 million in new financing and implement a deal with its biggest aircraft 
lessor to return dozens of aircraft. Both the new financing and the agreement 
with lessor AerCap Ireland Ltd. are poised to unlock more than $600 million in 
fresh liquidity to fund Spirit’s operations while it restructures in Chapter 
11. Additional settlements with other aircraft lessors that will save the 
bankrupt carrier more money should be finalized in the coming days, Spirit 
lawyer Marshall Huebner said Friday during a court hearing in New York.

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