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Spirit Airlines Inc.’s shares soared the most in 13 years of trading after the carrier secured more time to address a troublesome debt load that has raised the prospect of bankruptcy. An agreement with US Bank National Association announced late Friday at least temporarily relieved the most immediate threat to Spirit, which has struggled since a federal judge in January blocked its planned acquisition by JetBlue Airways Corp. An engine part defect has grounded some of its planes and fares during the critical summer travel period were restrained by an oversupply of capacity across the industry. Spirit now has until Dec. 23 to extend or refinance its 2025 bonds to maintain its credit-card processing agreement with the bank. The beleaguered fare discounter previously was facing a Monday deadline. The carrier also said it borrowed all of the $300m available under a revolving credit line. Its shares surged 69% to $2.48 at 11:38 a.m. Monday in New York, the most since the carrier began trading publicly in May 2011. The stock had lost 91% of its value this year through Friday. The deadline extension, along with lower oil prices and the draw of its revolving credit line, “could result in a short-term bounce for Spirit’s shares,” Stephen Trent, a Citi analyst, said in a note. He added that the developments also could lead to “near-term profit-taking” in competitors JetBlue and Frontier Group Holdings Inc., suggesting their shares could fall.<br/>

Azul’s efforts to raise $400m in fresh debt have hit a snag, with the troubled Brazilian airline rushing to raise the cash it needs to meet a key condition of its deal with aircraft lessors, according to people familiar with the matter. Jefferies Financial Group had been reaching out to potential investors to help Azul raise cash through the sale of new debt that can be converted to equity, the people said, asking not to be named discussing private details. But the bank has so far come up short of the full amount, the people said. The struggling air carrier is now focused on negotiations with its bondholders to secure financing. An Azul spokesperson declined to comment. Jefferies did not immediately respond to a request for comment. Azul this month sealed a deal with lessors and parts suppliers that would reduce its debt by 3b reais ($530m) in exchange for 100m new preferred shares. But the agreement is contingent on the company to obtaining the new financing Jefferies has been trying to arrange. Raising fresh capital is crucial to bolstering Azul’s cash position and addressing near-term refinancing needs. The company has struggled with high interest rates, volatile fuel costs and a weaker Brazilian real. The exchange rate variation has made its gross debt swell, while the closing of a key airport in Brazil’s south dragged on earnings. Bloomberg reported in August that Azul has weighed options including a follow-on equity offering and filing for Chapter 11 to tackle its debt obligations. Following the report, the company said in a regulatory filing that it was analyzing options, including raising debt using its cargo unit as collateral, and that it preferred “commercial solutions.”<br/>

Dubai's Emirates has ordered five Boeing 777F freighters and will make a decision this year on a purchase of further Boeing or Airbus models for its fleet beyond 2028/29, the airline said on Monday. The announcement confirms a Reuters report last week that Emirates had ordered current-generation 777F freighters in September, part of a batch of new orders for 11 777F freighters disclosed by Boeing without giving airline names earlier this month. In a statement, Emirates said it had also signed a multi-year lease extension with Dubai Aerospace Enterprise for four Boeing 777Fs that it already operates. Emirates also said it was in talks to choose between two newer models, the Airbus A350F and the freighter version of the Boeing 777X (also known as 777-8F), and would make a decision by year-end. Airline president Tim Clark last week renewed criticism of delays in the 777X passenger version and voiced concerns over a corporate crisis at Boeing. Monday's statement reaffirmed Emirates' commitment to a delayed project to convert 10 passenger Boeing 777-3000ERs into freighters with Israel Aerospace Industries, without naming the Israeli company. Emirates signed a deal with IAI to convert the planes into freighters in November 2021, reflecting closer business ties after the UAE in 2020 became the first Arab state to open diplomatic relations with Israel in almost three decades.<br/>

FlyEgypt has terminated flight operations and attempted to go into liquidation only to be thwarted by the Egyptian Civil Aviation Authority (ECAA), local media have reported. Various reports indicate the ECAA refused the privately-owned airline's request to surrender its operating licence and have its aircraft removed from the Egyptian register citing outstanding financial obligations to both local and international creditors. Aside from leasing dues, the ECAA said FlyEgypt has debts to among others tour operators in Germany and Italy. Locally, it owes Egypt’s National Air Navigation Services Company, various Egyptian airports, and its employee social security back payments. According to the ch-aviation fleets module, FlyEgypt's only remaining in-house aircraft, B737-800 SU-TMN (msn 32692) on lease from AerCap, has been undergoing maintenance at Cairo International since September 20 when it arrived there following a flight in from Jeddah International. The carrier had also relied extensively on wet-leased capacity.<br/>

HK Express, the low cost arm of Cathay Pacific Airways Ltd., says it’s willing to sacrifice profitability as it expands to capitalize on the enlarged Hong Kong International Airport. HK Express CEO Jeanette Mao vowed to make more investment in planes and routes during a press conference Monday to mark the carrier’s 11th anniversary. This year will see 10 new routes launched for HK Express, the most in its history. “If you ask me whether we’re eyeing profitable growth, I will say this year, and in the upcoming one or two years, we’re in the stage of investment for growth,” Mao said. “With the third runway, we expect regional short-haul capacity will continue to grow.” HK Express’s 10th new destination this year is Shizuoka in central Japan. That takes the number of destinations in Japan alone to 11 across 300 flights a week, making it HK Express’s single-largest market. Short-term demand is giving “us great confidence in the market outlook,” Mao said. Japan is popular with the weak yen while there’s been a strong pick up in bookings originating from neighboring mainland Chinese cities Shenzhen and Guangzhou, she said. <br/>