Spirit Aviation Holdings, parent company of Spirit Airlines, LLC ("Spirit" or the "Company"), has reached an agreement with its senior secured noteholders to amend its debtor-in-possession ("DIP") credit agreement. The amendment provides for the previously agreed third funding round of an incremental $100 million to be fulfilled today. $50 million (minus OID) is useable by Spirit immediately, and the use of the remaining amount is subject to previously agreed conditions that relate to further progress on a standalone plan of reorganization or a strategic transaction. Spirit is currently in active negotiations on each of these possibilities.

"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 Dave Davis, Spirit's President and Chief Executive Officer. "We continue to provide high-value travel options, which benefit American consumers whether they fly with us or not, and look forward to welcoming our Guests aboard throughout this holiday season and into the future."

Last week, Spirit announced that its Pilot and Flight Attendant groups had ratified new agreements to support the Company's future. In the past 60 days, Spirit also has dramatically repositioned its fleet and improved its cost structure. The airline continues to develop its product offerings, which range from economical to premium, but in all cases are designed to offer compelling value, while never deviating from delivering a top-tier operation.

"I want to thank our Pilots, Flight Attendants and the entire Spirit team for taking such great care of our Guests and continuing to deliver a world-class operation we all take pride in," Davis said.