00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Spirit Airlines secured $475 million in court-approved financing and an additional $150 million from AirCap,
00:11offering temporary relief as it navigates its second bankruptcy since November, according to CNBC.
00:17The U.S. Bankruptcy Court in New York approved the funding to help the low-cost carrier continue operations,
00:23with $200 million available immediately.
00:26Spirit has rejected 27 aircraft leases and continues to slash routes, shrink its fleet, and furlough about one-third of its flight attendants.
00:35The airline is also in talks with its pilots' union for $100 million in labor savings.
00:41CEO Dave Davis said the ruling marks another significant milestone in the restructuring.
00:46Spirit's struggles stem from rising costs, an engine recall, and a failed JetBlue acquisition.
00:51For all things money, visit Benzinga.com.
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