Spirit Airlines

Some funding will be conditioned on the carrier’s progress in restructuring, or reaching a “strategic transaction.”

The carrier will reach a critical bankruptcy milestone on Saturday.

The struggling ultra-low-cost airline expects to save about $100 million per year through the contract modification.

The temporary dismissals were supposed to take effect at the end of January.

Despite its bankruptcy, the ultra-low-cost carrier is continuing to build connections between South Florida, Central America, and the Caribbean.

The carrier’s senior leaders have pledged to take the same pay reduction as their pilot group.

The carrier cut about 150 positions this week as it continues restructuring.

The carrier is currently restructuring its operations under the supervision of a U.S. bankruptcy court.

The airline is currently restructuring after declaring bankruptcy in August.

The carrier will have immediate access to $200 million as it navigates its second bankruptcy.