Originally Posted by
Stayontarget
“The debt is intended to pay down $155 million of debt and have more cash on hand with an uncertain 2023. According to Airline Weekly, this is after Spirit Airlines took out $850 million in loyalty program-secured debt in September 2020.”
https://simpleflying.com/spirit-airlines-raise-600-million-new-debt/
Maybe they are about to get a big raise and raise the industry to a new standard. Maybe not.
Sounds like the country's largest ULCC isn't doing very well to me. Coming out of COVID, the higher service airlines have had the highest margins. Looks like they are trying to survive until their business model changes.