04:32 PM EDT, 09/30/2025 (MT Newswires) -- Spirit Airlines has reached an agreement for up to $475 million in debtor-in-possession financing, in addition to $150 million from aircraft lessor AerCap ( AER ) , both subject to court approval, to continue its operations, CNBC reported Tuesday, citing the carrier's restructuring lawyer Marshall Huebner.

The company filed for a second Chapter 11 bankruptcy protection in less than a year due to high costs and subdued demand, according to the report.

Among a slew of cost-cutting actions, the company is in discussions with its pilots' union to seek around $100 million in cuts from that group, CNBC added.

The company intends to reject leases on 27 Airbus narrow-body aircraft from AerCap ( AER ), as well as 12 airport leases and 19 ground-handling agreements, in an attempt to slash costs, CNBC reported.

Spirit Airlines did not immediately respond to MT Newswires' request for comment.

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