Spirit Airlines Inc Completed A Series Of Sale-Leaseback Transactions With Respect To 25 Aircraft; Transactions Resulting In Repayment Of About $465M Of Indebtedness On Those Aircraft And Net Cash Proceeds To Co Of About $419M
Portfolio Pulse from Benzinga Newsdesk
Spirit Airlines Inc. has finalized sale-leaseback transactions for 25 aircraft, as per an SEC filing. These transactions allowed the company to repay approximately $465 million of debt on the aircraft and generated net cash proceeds of about $419 million.
January 03, 2024 | 9:42 pm
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Spirit Airlines Inc.'s recent sale-leaseback transactions for 25 aircraft have significantly reduced its debt by about $465 million and provided a substantial cash influx of approximately $419 million.
The completion of the sale-leaseback transactions is a positive financial move for Spirit Airlines, as it reduces the company's debt burden and increases its cash reserves. This is likely to be viewed favorably by investors and could lead to a short-term uptick in the stock price, reflecting improved financial stability and liquidity.
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