Jan 22 (Reuters) – Spirit Airlines is in talks with investment firm Castlelake for a potential takeover of the bankrupt carrier, CNBC News reported on Thursday, citing people familiar with the matter.
Frontier Airlines had been in talks with Spirit for a potential merger, but the low-cost rival was unable to secure a deal, the report said.
The report comes as Spirit’s future appears increasingly uncertain, with cash running low during its bankruptcy proceedings, its second in less than a year.
Last month, the airline secured an additional $100 million in emergency financing to support operations and restructuring while under court protection.
Spirit and Castlelake did not immediately respond to Reuters requests for a comment.
(Reporting by Abhinav Parmar and Shivansh Tiwary in Bengaluru; Editing by Shailesh Kuber and Vijay Kishore)
