The latest update is out from Spirit Airlines ( (SAVE) ).
Spirit Airlines has announced a significant aircraft sale to GA Telesis, expected to boost its liquidity by $225 million by the end of 2025. Despite a planned reduction in capacity due to the sale and engine availability issues, the company anticipates a better-than-expected operating margin and has identified $80 million in cost savings to support its profitability strategy. Spirit plans to end 2024 with over $1 billion in liquidity, maintaining active discussions with note holders regarding upcoming maturities.
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