AMERICAS DISTRESS DAILY: Spirit Aviation Gets $475 Million Loan

Spirit Aviation lenders have agreed to provide the company with up to $475 million of bankruptcy financing to fund the carrier’s restructuring. The financing, if approved in court, would be provided by a group of bondholders.

• Spirit is also expected to strike additional agreements with other lessors, after discussing a pending settlement with its biggest aircraft lessor, AerCap Ireland Ltd.
• The airline won court approval to reject a dozen airport leases and 19 ground handling agreements, which it said will reduce costs.

In Other News:

• Petershill Partners, a Goldman Sachs division, is delisting from the London Stock Exchange after ...