Spirit Airlines Gets $100 Million Lifeline Amid Restructuring

Spirit Aviation Holdings Inc. received a short-term lifeline from creditors after securing access to another tranche of financing, easing immediate pressure on the carrier as it works through its second bankruptcy in less than a year.

The ultra-low-cost carrier said it amended its debtor-in-possession credit agreement to provide access to $100 million in incremental funding, according to a Monday statement.

Of that amount, $50 million is immediately available for use, while access to the remainder is contingent on continued progress toward a standalone reorganization plan or a strategic transaction.

Spirit said flights, ticket sales and operations will continue as usual ...