Originally Posted by
Crjdeuce
A 363 asset sale. That debt will not transfer.
363 Asset sales are not applicable with leased assets. Spirit has always had the ability to sell owned assets that are unencumbered. My understanding is that 100% of Spirit's planes are either leased (i.e. owned by another entity) or have encumbrances (meaning notes against the asset). For other debts owed by Spirit, maybe, but you don't wipe out encumbrances on the planes themselves. Those have to be paid off.