Total amount raised
$900 Million
Latest funding date
01/01/2025
Location
Spirit Airlines has raised funding over four rounds, with the latest being a Post-IPO Debt round. The company is registered under the ticker NASDAQ:SAVE and has been acquired by Oaktree Capital Management.
Keep reading to explore the intricacies of Spirit Airlines' fundraising journey and the investors backing this established airline.
What Is Spirit Airlines?
Spirit Airlines, based in Miramar Beach, Florida, is a prominent player in the air transportation industry. The company offers customizable travel options and has been acquired by Oaktree Capital Management. It operates under the ticker NASDAQ:SAVE.
Founded in an unspecified year, Spirit Airlines employs over 10,001 people. The company is known for its budget-friendly travel services, catering to a wide range of customers seeking affordable air travel solutions.
How Much Funding Has Spirit Airlines Raised?
- Post-IPO Debt Round
- Amount Raised: USD 600,000,000
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity and support general corporate needs.
- Post-IPO Debt Round
- Amount Raised: USD 300,000,000
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity and support general corporate needs post-bankruptcy.
- Post-IPO Debt Round
- Amount Raised: USD 200,000,000
- Date: October 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity and support general corporate needs.
- Post-IPO Debt Round
- Amount Raised: USD 50,000,000
- Date: December 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity and support general corporate needs.
Total Amount Raised: USD 1,150,000,000. Current Valuation: Not publicly disclosed.
Key Investors
Based on the provided sources, here is an unordered list of the major investors in Spirit Airlines:
- Oaktree Capital Management
- Details: Oaktree Capital Management is a global asset management firm specializing in alternative investment strategies. They acquired Spirit Airlines, providing significant financial backing to the company.
- Investment Focus Areas: Distressed debt, corporate debt, real estate, private equity.
- Notable Investments: Not publicly disclosed.
Information about other major investors in Spirit Airlines was not found in the provided sources.
What's Next for Spirit Airlines?
Spirit Airlines is poised for a transformative phase as it secures $300 million in financing to support its post-bankruptcy operations. This substantial funding, coupled with the sale of 23 Airbus aircraft for $519 million, provides a solid foundation for the airline to stabilize and potentially expand its operations. The restructuring efforts aim to attract higher-paying customers and create new revenue streams, marking a shift from its traditional low-cost model.
Future fundraising opportunities are on the horizon, with potential for additional credit facilities and equity offerings. The successful exit from Chapter 11 bankruptcy could position Spirit Airlines for further investments, enabling it to publish and execute a new flight schedule for 2025. However, challenges remain, including managing workforce reductions, addressing cost structure issues, and navigating a competitive market. The airline's ability to adapt and innovate will be crucial in overcoming these hurdles and achieving long-term growth.
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