Spirit has taken proactive measures to enhance liquidity, including completing sale-leaseback deals for 25 aircraft, generating $419 million in cash proceeds.
These proceeds have allowed the repayment of approximately $465 million in debt, contributing to the airline’s ability to compete effectively in the current demand landscape and return to profitability.
In addition, Spirit is in negotiations with Pratt & Whitney regarding financial damages related to engine issues. While an agreement has not been reached yet, Spirit believes that compensation from this source could be a significant cash inflow over the next several years.
