It’s a season of savings for travelers seeking flight deals.Spirit Airlines has dozens of flight deals with one-way fares under $50 to popular destinations including Las Vegas, New York, Orlando, and more. The lowest price spotted in the promotion was just $11, for a flight from Las Vegas, NV to Sacramento, CA. The airline also has a variety of $20 flights including Dallas, TX to Atlanta, or Los Angeles (LAX) to Las Vegas. The deals are listed on the “Popular Flight Deals” within Spirit’s website.
Spirit Airlines Extends Key Deadline to Refinance Debt
19.10.2024 - 15:57 / skift.com / Spirit Airlines / Meghna Maharishi
Spirit Airlines said Friday it had entered into an agreement to extend the deadline to refinance some of its debt.
In a regulatory filing, Spirit said the deadline would be extended from October 21 to December 23.
The budget carrier was facing an October 21 deadline on renegotiating an agreement with the U.S. National Bank Association related to processing certain payments made to it via Visa or MasterCard credit cards.
Some Wall Street analysts had speculated that depending on the negotiations for the credit card processing agreement, Spirit faced a risk of filing for bankruptcy. The Wall Street Journal previously reported that Spirit was in talks with bondholders over the terms of a potential bankruptcy filing.
Spirit also said that it had used the $300 million under its revolving credit facility in its entirety and expected to end the year with over $1 billion in liquidity. The carrier also said in the filing that it “remains in active and constructive discussions” related to its debt that is set to reach maturity in 2025 and 2026, respectively.
The carrier’s stock reached a new low on Friday, down 3% at $1.47 a share.
Spirit hasn’t posted a profit since the pandemic and its path as a standalone carrier became uncertain after a federal judge blocked its merger with JetBlue. Pratt & Whitney engine issues have also caused the carrier to ground some of its fleet.
For the second quarter, Spirit reported a loss of $192.9 million, a steep decline from the $2.3 million loss reported at the same time last year.
To boost its balance sheet, Spirit has looked for ways to cut costs and increase its liquidity. Spirit furloughed 186 pilots and delayed its Airbus deliveries.
Spirit said in August it would introduce bundled fares and a form of premium seating that blocks off the middle seat.
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