---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-010573"
form_type: "8-K"
ticker: "FLYYQ"
cik: "0001498710"
company_name: "Spirit Aviation Holdings, Inc."
filed_at: "2025-08-21T23:59:59+00:00"
generated_at: "2026-05-17T10:48:15.461490+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Spirit Aviation borrows $275M revolver, extends card agreement to Dec 2027 with $50M pledge

## Summary
- Borrowed the full $275M available under amended revolving credit facility, maturing Sep 30, 2026.
- Amended card processing agreement with USB extending term to Dec 31, 2027 with auto-renewals.
- Agreed to transfer $50M cash to pledged account and allow daily holdbacks of up to $3M.
- USB removed minimum liquidity trigger for holdbacks in exchange for enhanced collateralization.
- Proceeds intended for general corporate purposes and to support liquidity amid the collateral posting requirements.

## SEC filing metadata
- accession: 0000950103-25-010573
- form_type: 8-K
- ticker: FLYYQ
- cik: 0001498710
- company_name: Spirit Aviation Holdings, Inc.
- filed_at: 2025-08-21T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1498710/000095010325010573/0000950103-25-010573-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498710/000095010325010573/dp233288_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-010573
- JSON: https://secwatch.observer/filing/0000950103-25-010573.json
- Plain text: https://secwatch.observer/filing/0000950103-25-010573.txt

## Key facts
- Debt Financings
  Spirit Aviation Holdings, Inc. incurred revolving credit of $275.0 million with Citibank, N.A. maturing September 30, 2026.
  - Instrument: revolving credit
  - Principal: $275.0 million
  - Counterparty: Citibank, N.A.
  - Maturity: September 30, 2026
  - Event: incurrence
  source text: On August 21, 2025, Spirit borrowed the entire available amount of $275.0 million under the Revolving Credit Facility. Borrowings under the Revolving Credit Facility will mature on September 30, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325010573/0000950103-25-010573-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.