Spirit Airlines gets credit from IAE that will boost liquidity

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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchi -Spirit Airlines' said on Friday it will get a monthly credit from International Aero Engines through the end of 2024 as compensation for Spirit being unable to use aircraft with engine issues.

Under the agreement, Spirit agreed to release IAE and its affiliates from claims related to the impacted engines that have accrued or may accrue prior to Dec. 31, 2024. RTX Corp had received subpoenas from the U.S. SEC in February over an investigation related to disclosures in 2023 regarding use of powder metal in engines manufactured by its subsidiary Pratt and Whitney.

 

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Spirit Airlines gets credit from IAE that will boost liquidityThe carrier said in a filing with the U.S. Securities and Exchange Commission the agreement would boost liquidity by between $150 million and $200 million. ...
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