Here's the problem...you can't add that $30M to Spirit's cash. Its a net zero. All Spirit did was give up 2 gates in ORD for no net gain in cash.

The docs state that the $30M sale proceeds are being used to pay off part of the $475M DIP financing that was just approved. It means the creditors loaned in money to give Spirit runway, but then is selling assets to get back a portion of their $475M. So Spirit doesn't have $30M more. So now the DIP investors are only owed $445M, effectively. Its not $475M plus $30M of cash.

I wonder how quickly they will keep selling assets to recoup their $475M and what will be left over once they get that money back?

The only win here is Spirit owes $30M less in debt, but it also lost two pretty good gates in ORD because of it that its not going to get back.