Spirit ($SAVE) reaches faulty engine settlement for $150-200m through end of 2024

- Spirit Airlines will receive a monthly credit from International Aero Engines through the end of 2024 due to engine issues - This agreement will boost Spirit's liquidity by $150 million to $200 million - Spirit agreed to release IAE and its affiliates from claims related to impacted engines until Dec. 31, 2024 - The company removed engines from service on some A320neo aircraft after engine part issues were discovered - Rising operating costs and supply chain problems have led to liquidity issues for Spirit - Concerns about debt repayment and survival arose after a failed merger deal with JetBlue Airways was scrapped - Spirit Airlines stock ticker: SAVE - JetBlue Airways stock ticker: JBLU