Spirit Airlines (NK, Fort Lauderdale International) secured a funding lifeline from creditors on December 15, comprising USD50 million available immediately and another USD50 million "subject to previously agreed conditions that relate to further progress on a standalone plan of reorganisation or a strategic transaction."

"We are grateful to our lenders for continuing to support Spirit's transformation, recognizing all the significant progress our team has made in recent months," said president and chief executive Dave Davis.

The funding constitutes the third tranche of a previously agreed USD100 million debtor-in-possession funding.

Spirit Airlines previously agreed with its creditors on a USD475 million debtor-in-possession (DIP) facility. A US bankruptcy court okayed the deal in October 2025. The first tranche of USD200 million was available immediately. The second tranche of USD75 million was available on November 7 at the earliest, contingent on Spirit having at least USD160 million in liquidity and other conditions, including the completion of labour negotiations.

The third tranche of USD100 million was available at the earliest on December 13, contingent on the airline having at least USD80 million in liquidity. The carrier was also mandated to demonstrate to its lenders at least one viable offer for a "strategic transaction" - meaning a merger or acquisition - or a standalone restructuring plan that would allow it to continue after emerging from Chapter 11.

The fourth USD100 million tranche has no deadline and hinges on the carrier either entering into a merger or acquisition deal, or filing an "acceptable plan of reorganisation".

Previously, the airline scheduled a key creditor meeting under Section 341 of the US bankruptcy code for December 17, 2025. The Air Current had earlier reported that at least two other US airlines were internally preparing for a potential imminent collapse of Spirit Airlines by readying contingency plans to backfill capacity in case the LCC was unable to convince creditors to access more DIP funding.