KBRA Comments on Aviation ABS Exposure to Spirit Airlines [Yahoo! Finance]
Spirit Airlines, Inc. (SAVE)
Last spirit airlines, inc. earnings: 2/5 04:14 pm
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US:NASDAQ Investor Relations:
ir.spirit.com
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Source: Yahoo! Finance
experienced financial deterioration in recent years as the airline has struggled to recover from the COVID-19 pandemic, with recent headlines indicating that Spirit is preparing to file for bankruptcy protection. Spirit is a lessee in six aviation lease asset-backed security (ABS) transactions rated by KBRA. While none of the exposures exceeds 10% of the underlying portfolio value, the transactions may be susceptible to future cash flow interruption due to further credit deterioration of the airline. Under bankruptcy protection, Spirit may elect to either reject or affirm its leases. If a lease is rejected, ABS cash flows could be negatively impacted while the related servicer attempts to re-lease or sell the aircraft. Leases may also be affirmed but restructured, resulting in lower lease rates, which would also negatively impact cash flows. The six KBRA-rated aviation lease ABS transactions that have exposure to Spirit, based on data from the October 2024 payment date reports (ap
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- Spirit Airlines stock plunges 59% amid report of bankruptcy deal [Yahoo! Finance]Yahoo! Finance
- Spirit Airlines, which flies out of Logan Airport, may be filing for bankruptcy. Here's what to know [CBS News]CBS News
- Flights continue as normal from Latrobe as fears of bankruptcy cause Spirit Airlines stock to tumble [Yahoo! Finance]Yahoo! Finance
- Spirit Airlines stock plunges 59% as company reportedly preps bankruptcy filing [Yahoo! Finance Canada]Yahoo! Finance Canada
- Could financial struggles for 2 major airlines affect holiday travel? [Yahoo! Finance]Yahoo! Finance
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