Spirit Soars After Affirming Deal Support, Refinancing Plans
- Carrier details steps to boost liquidity and refinance debt
- Shares rebound after three-day plunge spurred by court ruling
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Spirit Airlines Inc. said its deal with JetBlue Airways Corp. “remains in full force and effect” as the carrier explores ways to shore up its liquidity, offering investors a measure of relief after a federal judge blocked the multibillion-dollar buyout.
The company also detailed efforts to refinance debt in a wide-ranging update Friday aimed at easing anxieties over how Spirit will navigate the fallout of its troubled merger. The airline lost almost two-thirds of its market value in the days after the Jan. 16 court decision.