NEW YORK, Dec 8 (Reuters) – Spirit Aviation will transfer two airport gates to American Airlines for $30 million after a judge at the U.S. Bankruptcy Court for the Southern District of New York approved the company’s request on Monday.
In August, Spirit filed for bankruptcy for a second time as it grappled with dwindling cash reserves and mounting losses. The company has already exited 14 airports and rejected leases for over 80 aircraft.
As part of its network optimization, Spirit determined it no longer needs all four preferential gates at Chicago O’Hare International Airport and will retain two gates while assigning two gates to American Airlines…