Spirit Airlines to receive monthly credit from IAE through 2024 for engine issues, enhancing liquidity by $150-$200m.
Spirit Airlines will receive a monthly credit from International Aero Engines (IAE) through end-2024 as compensation for engine issues, enhancing the airline's liquidity by $150-$200m. The agreement's impact depends on the number of unavailable days in 2024 due to engine issues. Spirit Airlines intends to discuss arrangements with Pratt & Whitney for any remaining unavailable aircraft after the year-end.
March 29, 2024
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