Spirit Airlines Inc. borrowed US $ 275 million through a rotary credit line for Avoid an imminent cash crisis that threatened to cut the company’s ability to accept payments with customer credit cards.
At least US $ 50 million will be reserved to satisfy the bank that Process Spirit credit card transactionssaid the company in a regulatory presentation.
Us Bank had warned that if Spirit did not reserve more effective as a guarantee, the contract to process customer credit card payments would be canceled At the end of the year. LA threat forced Spirit to warn investors that the company could break.
Spirit restructured his balance earlier this year before leaving bankruptcy. The case of Chapter 11 did not address any important operational challenge, for example, when trying to cut labor costs or reduce the size of its aircraft fleet.
Since he left bankruptcy, Spirit has continued to go through difficulties. TOdas Airlines have dealt with a fall in demand because President Donald Trump’s trade war He undermined consumer confidence.
While trips recovered at the end of June, Several airlines predict that the profits of this quarter will be stable or below 2024 levels.
