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Spirit Airlines Completes Financial Restructuring, Equitizing $795 Million in Debt

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Spirit Aviation Holdings (US), the parent company of Spirit Airlines, has announced that Spirit Airlines has successfully completed its financial restructuring, marking a significant step in stabilizing its financial position and reducing debt obligations. The airline converted approximately $795 million of funded debt into equity, significantly lowering its leverage and improving its financial flexibility.

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Japan Airlines Takes Delivery of First A350-1000

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Japan Airlines (JAL) has expanded its fleet with the delivery of its first Airbus A350-1000, bearing serial number 683. The aircraft is powered by Rolls-Royce Trent XWB-97 engines, known for their fuel efficiency and advanced performance capabilities. This delivery is part of a larger order for 13 A350-1000 aircraft, scheduled to arrive within the current fiscal year.

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Spirit Airlines Seeks Sale/Leaseback for Four A321neos

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Spirit Airlines, a major US-based low-cost carrier, has filed a motion to initiate sale/leaseback transactions with JSA International US Holdings. These transactions involve up to four Airbus A321neo aircraft, serials 12324, 12330, 12333, and 12425, currently scheduled for delivery to Spirit between December 17, 2024, and April 2025.

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Aeroflot Reports Strong Nine-Month Profit Amid Revenue Growth

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Aeroflot has reported a strong financial performance for the first nine months of 2024, achieving a net profit of 26.3 billion rubles. This profit marks a significant turnaround from a 94.6 billion ruble loss in the same period in 2023. Contributing to this success was a 47.3% rise in revenue to 526.2 billion rubles, fueled…

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Wizz Air Signs New Pratt & Whitney Support Agreement

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Wizz Air, the Hungary-based low-cost carrier, has entered into a new support agreement with Pratt & Whitney, aiming to tackle ongoing engine-related challenges that have impacted its fleet. The carrier announced that it expects 40 aircraft to remain grounded through fiscal 2026 due to these issues, highlighting the significant operational hurdles caused by engine reliability concerns.

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Arik Air Shareholders Dispute AMCON’s Debt Claims

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Arik Air, one of Nigeria’s prominent airlines, has publicly denied claims made by the Asset Management Corporation of Nigeria (AMCON) regarding an alleged debt of $292 million owed to the corporation. The shareholders’ statement comes just two days after AMCON announced that liquidation of the airline remains a possible option.