# EDGAR Filing Document

**Accession Number:** 0001498710
**File Stem:** 0000950103-25-007120
**Filing Date:** 2025-6
**Character Count:** 89072
**Document Hash:** 282fda9def14fe43cead3b04acd6d652
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-007120.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0000950103-25-007120

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 55

**CONFORMED PERIOD OF REPORT**: 20250606

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Spirit Aviation Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001498710
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIR TRANSPORTATION, SCHEDULED [4512]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 333711797
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35186
- **FILM NUMBER:** 251032175

**BUSINESS ADDRESS:**
- **STREET 1:** 1731 RADIANT DRIVE
- **CITY:** DANIA BEACH
- **STATE:** FL
- **ZIP:** 33004
- **BUSINESS PHONE:** 954-447-7920

**MAIL ADDRESS:**
- **STREET 1:** 1731 RADIANT DRIVE
- **CITY:** DANIA BEACH
- **STATE:** FL
- **ZIP:** 33004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spirit Airlines, Inc.
- **DATE OF NAME CHANGE:** 20100811

?xml version='1.0' encoding='ASCII'?

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

____________________________

**FORM 8-K**

____________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): June 6, 2025**

____________________________

**SPIRIT AVIATION HOLDINGS, INC.** 

**(Exact name of registrant as specified in its charter)**

____________________________

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| | | |
|:---|:---|:---|
| **Delaware** | **001-35186** | **33-3711797** |
| **(State or other jurisdiction of** <br> **incorporation or organization)**  | **(Commission File Number)** | **(I.R.S. Employer** <br> **Identification No.)**  |

---

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| | | | |
|:---|:---|:---|:---|
| **1731 Radiant Drive** | **Dania Beach** | **Florida** | **33004** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

---

**(954) 447-7920**

**(Registrant's telephone number, including area code)**

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Name of exchange on which registered** | **Trading Symbol** |
| Common Stock, $0.0001 par value | NYSE American | FLYY |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

---

*Monthly Operating Report*

As previously disclosed, on November 18, 2024, Spirit Airlines, Inc. (n/k/a Spirit Airlines, LLC) ("Former Spirit"), and subsequently on November 25, 2024, its subsidiaries (together with Former Spirit, the "Company Parties"), filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). On February 20, 2025, the Bankruptcy Court entered an order (the "Confirmation Order") confirming the *First Amended Joint Chapter 11 Plan of Reorganization of Spirit Airlines, Inc. and Its Debtor Affiliates* (the "Plan"). On March 12, 2025 (the "Emergence Date" or "Effective Date"), the Company Parties emerged from the Chapter 11 Cases in accordance with the Plan. On March 27, 2025, the Bankruptcy Court entered the *(I) Final Decree Closing Certain of the Chapter 11 Cases and (II) Order Amending the Joint Administration Order* [ECF No. 546], closing all the Chapter 11 Cases other than that of Spirit Finance Cayman 1 Ltd. (Case No. 24-12038).

On June 6, 2025, Former Spirit filed its monthly operating reports for the month ended February 28, 2025, and the period beginning March 1, 2025, and ending March 11, 2025 (the "Monthly Operating Reports"), and its quarterly post-confirmation report for the period beginning on the Effective Date and ending on March 27, 2025 (the "Post-Confirmation Report"), with the Bankruptcy Court. The Monthly Operating Reports are attached hereto as Exhibit 99.1 Exhibit 99.2, and the Post-Confirmation Report is attached hereto as Exhibit 99.3; the foregoing reports are incorporated herein by reference. This current report (including the exhibits hereto or any information included therein) shall not be deemed an admission as to the materiality of any information required to be disclosed solely by reason of Regulation FD.

Additional information about the Chapter 11 Cases, and copies of all documents publicly filed in the Chapter 11 Cases (including the Monthly Operating Reports and the Post-Confirmation Report), can be accessed free of charge at https://dm.epiq11.com/SpiritGoForward.

*Cautionary Statement Regarding Financial and Operating Data* 

The registrant cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Reports or the Post-Confirmation Report, which were not prepared for the purpose of providing the basis for an investment decision relating to any securities of the registrant or its subsidiaries. Each Monthly Operating Report and Post-Confirmation Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the reporting requirements applicable in the Chapter 11 Cases. The Monthly Operating Reports and Post-Confirmation Report were not audited or reviewed by independent accountants, are in a format prescribed by applicable bankruptcy laws and regulations, and are subject to future adjustment and reconciliation. Therefore, the Monthly Operating Reports and Post-Confirmation Report do not necessarily contain all information required in filings pursuant to the Exchange Act, or may present such information differently from such requirements. There can be no assurance that, from the perspective of an investor or potential investor in the registrant's securities, the Monthly Operating Reports or Post-Confirmation Report are complete. The Monthly Operating Reports and Post-Confirmation Report also contain information for periods which are shorter or otherwise different from those required in the registrant's reports pursuant to the Exchange Act, and such information might not be indicative of the registrant's financial condition or operating results for the period that would be reflected in the registrant's financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Reports and Post-Confirmation Report should not be viewed as indicative of future results.

*Cautionary Statement Regarding Forward-Looking Statements* 

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](dp229916_ex9901.htm) | [Monthly Operating Report of Spirit Airlines, Inc. for the month ended February 28, 2025, filed with the United States Bankruptcy Court for the Southern District of New York.](dp229916_ex9901.htm) |
| [99.2](dp229916_ex9902.htm) | [Monthly Operating Report of Spirit Airlines, Inc. for the period beginning March 1, 2025, and ending March 11, 2025, filed with the United States Bankruptcy Court for the Southern District of New York.](dp229916_ex9902.htm) |
| [99.3](dp229916_ex9903.htm) | [Post-Confirmation Report of Spirit Airlines, LLC for the period beginning on March 12, 2025, and ending on March 27, 2025, filed with the United States Bankruptcy Court for the Southern District of New York.](dp229916_ex9903.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: June 6, 2025 | SPIRIT AVIATION HOLDINGS, INC. | SPIRIT AVIATION HOLDINGS, INC. |
|  | By: | /s/ Thomas Canfield |
|  | Name: | Thomas Canfield |
|  | Title: | Senior Vice President and General Counsel |

---

## Exhibit 99.1

**Exhibit 99.1**

**UNITED STATES BANKRUPTCY COURT<br> SOUTHERN DISTRICT OF NEW YORK**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **In re:**<br>**SPIRIT FINANCE CAYMAN 1 LTD.,**<br>**Debtor.<sup>1</sup>**<br>| &nbsp;&nbsp; **Chapter 11**<br>**Case No. 24-12038 (SHL)**<br>|

---

**GLOBAL NOTES AND STATEMENT OF LIMITATION,<br> METHODOLOGY, AND DISCLAIMERS REGARDING<br> <u>THE MONTHLY OPERATING REPORT FOR FEBRUARY 2025</u>**

The (Reorganized) Debtors<sup>2</sup> prepared the attached monthly operating report for February 2025 (together herewith and with all exhibits and schedules thereto, the "**MOR**").

On November 18, 2024, Spirit Airlines, Inc. (n/k/a Spirit Airlines, LLC) filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "**Bankruptcy Code**") in the United States Bankruptcy Court for the Southern District of New York (the "**Bankruptcy Court**"). On November 25, 2024, Spirit Airlines, Inc.'s subsidiaries (collectively, the "**Cayman Debtors**") filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court. The Chapter 11 Cases were jointly administered for procedural purposes only pursuant to Bankruptcy Rule 1015(b), as ordered by the Bankruptcy Court [ECF No. 121].

On February 20, 2025, the Bankruptcy Court entered the Confirmation Order [ECF No. 500] confirming the Plan and granting related relief. The Plan became effective and was substantially consummated on March 12, 2025 [ECF No. 533]. On March 27, 2025, the Bankruptcy Court entered the *(I) Final Decree Closing Certain of the Chapter 11 Cases and (II) Order Amending the Joint Administration Order* [ECF No. 546], closing all the Chapter 11 Cases other than that of Spirit Finance Cayman 1 Ltd. (No. 24-12038).

The following notes and statements and limitations pertain to, are incorporated by reference in, and comprise an integral part of, the MOR, and should be referred to and considered in connection with any review thereof.

1. **Basis of Presentation**. The (Reorganized) Debtors prepared the MOR with the assistance
of their advisors and professionals, and are filing it solely for purposes of complying with the reporting requirements applicable in
the Chapter 11 Cases. There can be no assurance that such information is complete, and the MOR may be subject to revision.

<sup>1</sup> The last four digits of the Reorganized Debtor's employer identification number are 7020. The Reorganized Debtor's mailing address is 1731 Radiant Drive, Dania Beach, FL 33004.

<sup>2</sup> Capitalized terms used but not immediately or otherwise defined herein shall have the meanings ascribed to them elsewhere herein or in the *First Amended Joint Chapter 11 Plan of Reorganization of Spirit Airlines, Inc. and Its Debtor Affiliates* [ECF No. 500, Ex. A] (the "**Plan**"), as applicable. The rules of interpretation set forth in <u>Article I.B</u> of the Plan shall apply hereto.

This MOR is unaudited, limited in scope, and has not been prepared in accordance with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder, but has been prepared in accordance with accounting principles generally accepted in the United States of America ("**U.S. GAAP**") (except that the MOR does not include all information and footnotes required by U.S. GAAP).

The (Reorganized) Debtors and their agents, advisors, attorneys, and other professionals undertake no responsibility to indicate variations from securities laws, other laws, or generally accepted accounting principles herein, or for any evaluations of the (Reorganized) Debtors based on this financial information or any other information. This information has not been subjected to audit procedures that would typically be applied to financial information presented in accordance with U.S. GAAP or any other recognized financial reporting framework, and upon application of such procedures, the presented financial information could be subject to material changes. The MOR is not intended to reconcile to any financial statements otherwise prepared or distributed by or for the (Reorganized) Debtors. Each signatory to the MOR has necessarily relied upon the efforts, statements, advice, and representations of personnel of the (Reorganized) Debtors and their agents, advisors, attorneys, and other professionals. Each signatory has not (and could not have) personally verified the accuracy of each such statement, representation, and answer contained in the MOR.

The financial information contained herein is presented per Spirit's books and records without, among other things, all adjustments or reclassification that may be necessary or typical with respect to consolidating financial statements or SEC reporting purposes or in accordance with U.S. GAAP. The (Reorganized) Debtors' accounting systems, policies, and practices were developed to produce consolidated financial statements at the Spirit Airlines, Inc. (n/k/a Spirit Airlines LLC) reporting entity rather than financial statements at each individual legal entity. The Cayman Debtors do not have day-to-day business operations or physical presence and thus do not traditionally maintain books and records. Upon agreement reached with the United States Trustee for the Southern District of New York (the "**U.S. Trustee**"), the Cayman Debtors are to provide information for Part 1 and Part 7, with limited information on cash balances for Part 2 of the MOR form and provide no financial statement attachments at the entity-level. As such, intercompany balances, historical retained earnings, and equity balances for the Cayman Debtors are not reflected in the separate MORs for each of the Cayman Debtors as these were not historically maintained in the (Reorganized) Debtors' accounting system.

2. **Reporting Period**. Unless otherwise noted, the MOR reflects the (Reorganized) Debtors'
books and records and financial activity occurring during the applicable reporting period. Except as otherwise noted, no adjustments
have been made to activity occurring after the close of the reporting period. The first monthly operating reports encompassed
the reporting period from November 18, 2024, until the end of the month, November 30, 2024, with the exception of the Debtors' Statement
of Operations attachment and information provided in Part 4, both of which were provided on a full-month basis. This MOR covers
the full calendar month, as was the case for the December 2024 and January 2025 monthly operating reports.

*3.* **Disbursement Systems**. Cash was received and disbursed by the Debtors in a manner consistent
with the Debtors' historical cash management practices, as described in the *Motion of the Debtor for Entry of Interim and Final Orders (I) Authorizing (A) the Debtors to Maintain their Existing Cash Management System, Bank Accounts, and Business Forms, (B) the Debtors* 

*to Open and Close Bank Accounts, and (C) Financial Institutions to Administer the Bank Accounts and Honor and Process Related Checks and Transfers, (II) Waiving Deposit and Investment Requirements, and (III) Allowing Intercompany Transactions and Affording Administrative Expense Priority to Post-Petition Intercompany Claims* [ECF No. 7].

4. **Use of Information**. The financial information disclosed herein was not prepared in accordance
with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements
thereunder. The MOR should not be used or relied upon for any other purpose, including for information relating to the (Reorganized)
Debtors' current or future financial condition or performance or for purchasing, selling, or transferring the claims against or
equity interests in the (Reorganized) Debtors.

5. **Payment of Prepetition Claims Pursuant to First Day Orders**. Pursuant to certain "first
day" orders entered by the Bankruptcy Court in the Chapter 11 Cases (collectively, the "**First Day Orders** "),
the Debtors were authorized (but not directed) to pay or otherwise satisfy various prepetition claims, including those related to employees,
lienholders, customer obligations, insurance, vendors, taxes and fees, trade, and intercompany transactions. To the extent
any reportable payments were made on account of prepetition claims following commencement of these Chapter 11 Cases pursuant to a First
Day Order, such payments have been included in the applicable reporting matrices or notices required per, and identified in, each respective
final First Day Order.

6. **Reservation of Rights**. Although the (Reorganized) Debtors and their advisors made reasonable
efforts to ensure that the MOR is as accurate and complete as possible under the circumstances and based on information available at the
time of preparation, inadvertent errors or omissions may have occurred. The Reorganized Debtors hereby reserve all rights to
dispute the nature, amount, validity, status, enforceability, or executory natures of any claim, agreement, representation, or other statement
set forth in this MOR. Further, the Reorganized Debtors reserve the right to amend or supplement the MOR in all respects, as
they deem necessary or appropriate, but shall be under no obligation to do so. Nothing contained in this MOR shall constitute
a waiver of the Reorganized Debtors' rights or an admission of any kind with respect to these Chapter 11 Cases or any claim of or
against any (Reorganized) Debtor.

7. **Specific MOR Disclosures**.

**Notes to Part 1**:

· Cash balances, receipts, and disbursements reflect
bank activity during the reporting period. Timing differences in recognition of certain transactions may create differences
between bank balances presented in Part 1 and cash balances reported in the Balance Sheet attachment to the MOR.

· Where applicable, the (Reorganized) Debtors convert
non-USD cash transactions to USD using applicable currency exchange rates. As a result, changes in currency exchange rates
give rise to month-over-month fluctuations in cash balances which are reported in USD.

· Intercompany receipts and disbursements are excluded
from Parts 1(b) and 1(c), respectively. As such, the ending cash balances in Part 1 will not comport with the ending cash balances
in the (Reorganized) Debtors' bank statements or the (Reorganized) Debtors' books and records. A reconciliation
of end-of-month bank balances to the balances presented in Part 1 is provided in the attached Statement of Cash Receipts and Disbursements.

**Notes to Part 2**:

· Part 2 balances for the Cayman Debtors only include
the cash balances for total current assets and total assets. Historical intercompany asset and liabilities balances as well
as historical equity balances are not provided. No other Part 2 balances are applicable to the Cayman Debtors.

· Balances reflected in Part 2(g) accrued due to
changes to the Debtors' accounts payable processes implemented upon the commencement of the Chapter 11 Cases, among other nonrecurring
related issues. The total overdue post-petition amount of $20.5 million reflected in Part 2(g) includes approximately $20.0
million paid in the first week of the succeeding month.

**Notes to Part 3**:

· None

**Notes to Part 4**:

· Part 4(e) does not incorporate certain general
and administrative expenses related to payroll, technology, or other expenses that would otherwise be considered as general and administrative
expenses for purposes of MOR reporting. This is due to the setup of the (Reorganized) Debtors' accounting system—the
(Reorganized) Debtors do not separately classify expenses in their general ledger accounts between general and administrative expense
financial statement line items.

**Notes to Part 5**:

· Part 5(a) includes payments made to Epiq Corporate
Restructuring LLC in its capacity as claims and noticing agent in the Chapter 11 Cases [ECF No. 50].

· Part 5(b) reflects payments made in accordance
with the Bankruptcy Court's *Order Authorizing the Retention and Compensation of Professionals Utilized in the Ordinary Course of Business* [ECF No. 266].

· Part 5(c) includes payments made to professionals
of various creditor constituencies in the Chapter 11 Cases (including in accordance with the Bankruptcy Court's Final DIP Order
[ECF No. 257]).

**Notes to Part 6**:

· None

**Notes to Part 7**:

· For Part 7(a), pursuant to the relief granted
via the First Day Orders, the Debtors made payments on account of certain prepetition debts as they come due in the ordinary course of
business. Where required, details of these payments have been delivered to the required notice parties pursuant to the reporting
requirements contained within the final First Day Orders.

· For purposes of Part 7(c), the (Reorganized)
Debtors included information with respect to the individuals that the (Reorganized) Debtors believe may be included in the definition
of "insider" set forth in section 101(31) of the Bankruptcy Code during the reporting period. Such individuals
may no longer serve in such capacities. Persons listed as "insiders" have been

included for informational purposes only and their inclusion shall not constitute an admission that those entities or persons are insiders for purposes of section 101(31) of the Bankruptcy Code. The listing of a person as an insider for purposes of the MOR is not intended to be, nor should it be, construed as an admission of any fact, right, claim, or defense and all such rights, claims, and defenses are hereby expressly reserved. Information regarding the individuals listed as insiders in the MOR has been included for informational purposes only and such information may not be used for any purpose, including to determine (a) control of any (Reorganized) Debtor, (b) the extent to which any individual exercised management responsibilities or functions, (c) corporate decision-making authority over any (Reorganized) Debtor, or (d) whether such individual could successfully argue that he or she is not an insider under applicable law, including the Bankruptcy Code and federal securities laws, or with respect to any theories of liability. Where Part 7(c) is indicated as "Yes," such persons were confirmed to have received employee compensation payments in the ordinary course of business.

\*\*\*

![](ex9901_001.jpg)

UNITED STATES BANKRUPTCY COURT Southern DISTRICT OF New York In Re. Spirit Airlines, Inc. Debtor(s) † † † † Case No. 24 - 11988 Lead Case No. 24 - 11988 Jointly Administered Monthly Operating Report Chapter 11 Reporting Period Ended: 02/28/2025 Petition Date: 11/18/2024 Months Pending: 3 1 1 8 4 Industry Classification: Reporting Method: Accrual Basis Cash Basis Debtor's Full - Time Employees (current): 6,961 Debtor's Full - Time Employees (as of date of order for relief): 7,384 Supporting Documentation (check all that are attached): (For jointly administered debtors, any required schedules must be provided on a non - consolidated basis for each debtor) Statement of cash receipts and disbursements Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit Statement of operations (profit or loss statement) Accounts receivable aging Postpetition liabilities aging Statement of capital assets Schedule of payments to professionals Schedule of payments to insiders All bank statements and bank reconciliations for the reporting period Description of the assets sold or transferred and the terms of the sale or transfer Printed Name of Responsible Party Date /S/ Moshe Melcer Signature of Responsible Party 06/06/2025 Moshe Melcer 1 UST Form 11 - MOR (12/01/2021) 450 Lexington Ave New York, NY 10017 Address STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. † 1320.4(a)(2) applies.

![](ex9901_002.jpg)

Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Part 1: Cash Receipts and Disbursements Current Month Cumulative $1,017,498,333 $418,692,601 $1,851,655,717 $441,659,029 $1,734,322,323 $994,531,906 $0 $441,659,029 $0 a. Cash balance beginning of month b. Total receipts (net of transfers between accounts) c. Total disbursements (net of transfers between accounts) d. Cash balance end of month (a+b - c) e. Disbursements made by third party for the benefit of the estate f. Total disbursements for quarterly fee calculation (c+e) $1,734,322,323 Current Month Part 2: Asset and Liability Status (Not generally applicable to Individual Debtors. See Instructions.) $205,200,667 $46,789,541 (attach explanation)) $0 $1,995,339,650 $9,502,936,383 $1,352,141,689 $20,542,539 $103,735,775 $0 $1,455,877,464 $1,744,128,397 $8,217,239 $6,650,627,508 $9,858,850,608 a. Accounts receivable (total net of allowance) b. Accounts receivable over 90 days outstanding (net of allowance) c. d e. f. g. h. i. j. k. l. m. n. o. Inventory (Book Market Other Total current assets Total assets Postpetition payables (excluding taxes) Postpetition payables past due (excluding taxes) Postpetition taxes payable Postpetition taxes past due Total postpetition debt (f+h) Prepetition secured debt Prepetition priority debt Prepetition unsecured debt Total liabilities (debt) (j+k+l+m) Ending equity/net worth (e - n) $- 355,914,226 Part 3: Assets Sold or Transferred Current Month Cumulative $0 $42,828,451 $0 $17,185,447 c. a. Total cash sales price for assets sold/transferred outside the ordinary course of business b. Total payments to third parties incident to assets being sold/transferred outside the ordinary course of business Net cash proceeds from assets sold/transferred outside the ordinary course of business (a - b) $0 $25,643,004 Cumulative Current Month Part 4: Income Statement (Statement of Operations) (Not generally applicable to Individual Debtors. See Instructions.) $282,819,134 a. Gross income/sales (net of returns and allowances) $310,738,648 b. Cost of goods sold (inclusive of depreciation, if applicable) $- 27,919,514 c. Gross profit (a - b) $15,988,151 d. Selling expenses $11,547,252 e. General and administrative expenses $45,125,589 f. Other expenses $24,070,114 g. Depreciation and/or amortization (not included in 4b) $10,650,973 h. Interest $- 8,100,401 i. Taxes (local, state, and federal) $11,262,300 j. Reorganization items $- 686,671,066 $- 138,463,491 k. Profit (loss) 2 UST Form 11 - MOR (12/01/2021)

![](ex9901_003.jpg)

3 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Part 5: Professional Fees and Expenses Paid Cumulative Paid Current Month Approved Cumulative Approved Current Month a. $862,166 $216,331 $862,166 $216,331 Debtor's professional fees & expenses (bankruptcy) Aggregate Total Itemized Breakdown by Firm Role Firm Name $862,166 $216,331 $862,166 $216,331 Other EPIQ SYSTEMS ACQUISITIO i ii iii iv v vi vii viii ix x xi xii xiii xiv xv xvi xvii xviii xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi

![](ex9901_004.jpg)

4 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 xxxvi i xxxvi i xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxvii

![](ex9901_005.jpg)

5 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 lxxix lxxx lxxxi lxxxii lxxxii lxxxi v lxxxv lxxxv i lxxxv i lxxxv i lxxxi x xc xci xcii xciii xciv xcv xcvi xcvii xcviii xcix c ci Paid Cumulative Paid Current Month Approved Cumulative Approved Current Month b. $1,646,257 $716,363 $1,646,257 $716,363 Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total Itemized Breakdown by Firm Role Firm Name $60,938 $51,500 $60,938 $51,500 Other ABOGADOS SIERRA Y VAZ i $8,390 $6,380 $8,390 $6,380 Other ALEJANDRO FRANCO, P.A. ii $25,310 $0 $25,310 $0 Other CLARK HILL P.L.C. iii $30,942 $147 $30,942 $147 Other ESTUDIO SPINGARN & MAR iv $33,904 $1,311 $33,904 $1,311 Other FORD & HARRISON LLP v $28,133 $8,435 $28,133 $8,435 Other FRANK WEINBERG & BLAC vi $3,005 $0 $3,005 $0 Other GREENBERG TRAURIG PA vii $24,098 $0 $24,098 $0 Other JOSE LLOREDA CAMACHO viii $1,012 $0 $1,012 $0 Other KELLEY KRONENBERG ix $526,887 $199,972 $526,887 $199,972 Other KIRSTEIN & YOUNG PLLC x $216,273 $89,262 $216,273 $89,262 Other LITTLER MENDELSON xi $51,334 $51,334 $51,334 $51,334 Other O'MELVENY & MYERS LLP xii $100,800 $61,370 $100,800 $61,370 Other PAUL, WEISS, RIFKIND, WH xiii $99,778 $51,910 $99,778 $51,910 Other SMITH GAMBRELL & RUSS xiv

![](ex9901_006.jpg)

6 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 $115,185 $110,595 $115,185 $110,595 Other STUDIO LEGAL SONIA CAB xv $2,510 $2,510 $2,510 $2,510 Other TAFT STETTINIUS & HOLLI xvi $31,886 $9,756 $31,886 $9,756 Other THE FOONT LAW FIRM, LLC xvii $279,750 $71,881 $279,750 $71,881 Other WALKERS xviii $6,119 $0 $6,119 $0 Other WILMER CUTLER PICKERIN xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi xxxvi i xxxvi i xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi

![](ex9901_007.jpg)

7 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxvii lxxix lxxx lxxxi lxxxii lxxxii lxxxi v lxxxv lxxxv i lxxxv i lxxxv i lxxxi x xc xci xcii xciii xciv xcv xcvi xcvii xcviii

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 xcix c $13,827,492 $5,129,042 $13,827,492 $5,129,042 c. All professional fees and expenses (debtor & committees) Part 6: Postpetition Taxes Current Month Cumulative $- 4,658,820 $- 4,658,820 a. Postpetition income taxes accrued (local, state, and federal) $0 $0 b. Postpetition income taxes paid (local, state, and federal) $18,252 $18,252 c. Postpetition employer payroll taxes accrued $23,789,431 $7,947,460 d. Postpetition employer payroll taxes paid $5,015,056 $0 e. Postpetition property taxes paid $107,001,906 $107,001,906 f. Postpetition other taxes accrued (local, state, and federal) $250,032,389 $81,051,296 g. Postpetition other taxes paid (local, state, and federal) Part 7: Questionnaire - During this reporting period: Yes Yes No No Yes Yes Yes Yes Yes No No No No No h. a. Were any payments made on prepetition debt? (if yes, see Instructions) b. Were any payments made outside the ordinary course of business without court approval? (if yes, see Instructions) c. Were any payments made to or on behalf of insiders? d. Are you current on postpetition tax return filings? e. Are you current on postpetition estimated tax payments? f. Were all trust fund taxes remitted on a current basis? g. Was there any postpetition borrowing, other than trade credit? (if yes, see Instructions) Were all payments made to or on behalf of professionals approved by the court? Yes No N/A i. Do you have: N/A (if no, see Instructions) N/A (if no, see Instructions) Worker's compensation insurance? If yes, are your premiums current? Casualty/property insurance? If yes, are your premiums current? General liability insurance? If yes, are your premiums current? N/A (if no, see Instructions) j. Has a plan of reorganization been filed with the court? k. Has a disclosure statement been filed with the court? l. Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. † 1930 ? Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No 8 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Part 8: Individual Chapter 11 Debtors (Only) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Yes No Yes No N/A a. Gross income (receipts) from salary and wages b. Gross income (receipts) from self - employment c. Gross income from all other sources d. Total income in the reporting period (a+b+c) e. Payroll deductions f. Self - employment related expenses g. Living expenses h. All other expenses i. Total expenses in the reporting period (e+f+g+h) j. Difference between total income and total expenses (d - i) k. List the total amount of all postpetition debts that are past due l. Are you required to pay any Domestic Support Obligations as defined by 11 U.S.C † 101(14A)? m. If yes, have you made all Domestic Support Obligation payments? Privacy Act Statement 28 U.S.C. † 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. †† 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. † 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progress through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or fore ign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee's systems of records notice, UST - 001, "Bankruptcy Case Files and Associated Records." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http:// www.justice.gov/ust/eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. † 1112(b)(4)(F). I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate. /S/ Fred Cromer Signature of Responsible Party Chief Financial Officer Printed Name of Responsible Party 06/06/2025 Date Title Fred Cromer 9 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 PageOnePartOne PageOnePartTwo PageTwoPartOne PageTwoPartTwo 10 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Bankruptcy51to100 NonBankruptcy1to50 NonBankruptcy51to100 Bankruptcy1to50 11 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 PageFour P a g e T h ree 12 UST Form 11 - MOR (12/01/2021)

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United States Bankruptcy Court Southern District of New York In re: Spirit Airlines, Inc. Case No: 24 - 11988 February 2025 Cash Activity $ in USD Combined Debtor Spirit Airlines, Inc. Spirit Finance Spirit Finance Spirit IP Cayman Ltd. Spirit Loyalty Cayman (190,248) (190,248) - - - - Currency translation and funds in transit Ending Cash/Restricted Cash Balance Adjusted $1,034,499,952 $991,296,002 $- $- $43,203,937 12 $ Ltd. 24 - 12041 24 - 12040 Cayman 2 Ltd. 24 - 12039 Cayman 1 Ltd. 24 - 12038 24 - 11988 Entities In US $ Unless Otherwise Indicated 32,173,398 12 - - 1,017,498,333 1,049,671,7 4 4 Beginning Cash/Restricted Cash Bank Balance (2/1) 6,499,883 - - - 418,692,601 425,192,484 Receipts from third party - - - - 441,659,029 441,659,029 Disbursements to third party $38,673,282 12 $- - $$$994,531,906 $1,033,205,2 0 0 End Cash/Restrict Cash, net of intercompany activity 4,530,656 - - - (3,045,656) 1,485,000 Intercompany activities Intercompany receipts (disbursements) $43,203,937 12 $- - $$$991,486,250 $1,034,690,2 0 0 Ending Cash/Restricted Cash Bank Balance (2/28)

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United States Bankruptcy Court Southern District of New York In re: Spirit Airlines, Inc. Case No: 24 - 11988 February 2025 Balance Sheet Spirit Airlines, Inc. $ in USD Total for Period Ended 2/28/2025 746,486,685 Cash and cash equivalents 166,076,249 Restricted cash 119,159,766 Short - term investment securities 205,200,667 Accounts receivable, net 95,889 Income tax receivable 758,320,395 Prepaid expenses and other current assets $1,995,339,650 Total current assets 2,736,725,330 Flight equipment 787,081,379 Ground property and equipment (1,053,746,432) Less accumulated depreciation 4,639,742,372 Operating lease right - of - use assets 85,283,630 Pre - delivery deposits on flight equipment 253,659,798 Deferred heavy maintenance, net 58,850,655 Other long - term assets $7,507,596,733 Total non - current assets $9,502,936,383 Total assets 104,818,426 Accounts payable 505,052,089 Air traffic liability 309,516,573 Current maturities of long - term debt, net, and finance leases - Current maturities of operating leases 628,819,871 Other current liabilities $1,548,206,958 Total current liabilities 1,867,994,203 Long - term debt and finance leases, less current maturities 4,648,886,410 Operating leases, less current maturities 36,332,240 Deferred income taxes 122,326,797 Deferred gains and other long - term liabilities 1,635,104,000 Liability subject to compromise $8,310,643,650 Total non - current liabilities $9,858,850,608 Total liabilities $(355,914,225) Net assets 10,900 Common stock 1,174,769,456 Additional paid - in - capital (81,285,357) Treasury stock (1,449,555,711) Retained earnings 146,486 Accumulated other comprehensive income (loss) $(355,914,225) Total equity

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United States Bankruptcy Court Southern District of New York In re: Spirit Airlines, Inc. Case No: 24 - 11988 Income Statement 2/1/2025 - 2/28/2025 Spirit Airlines, Inc. $ in USD Month Ended 2/28/2025 276,578,850 Passenger 6,240,284 Other $282,819,134 Total operating revenues 84,892,788 Aircraft fuel 121,415,552 Salaries, wages and benefits 37,203,856 Landing fees and other rents 49,390,234 Aircraft rent 24,070,114 Depreciation and amortization 17,836,218 Maintenance, materials and repairs 15,988,151 Distribution 11,547,252 General and administrative - Special charges (credits) (5,516,043) Loss on disposal of assets 50,194,788 Other operating $407,022,910 Total operating expenses $(124,203,775) Operating income (loss) 14,137,721 Interest expense - Loss (gain) on extinguishment of debt (129,429) Capitalized interest (3,357,319) Interest income 11,262,300 Reorganization Items 446,844 Other (income) expense 22,360,117 Total other (income) expense (8,100,401) Provision (benefit) for income taxes (138,463,491) Net income (loss)

## Exhibit 99.2

**Exhibit 99.2**

**UNITED STATES BANKRUPTCY COURT<br> SOUTHERN DISTRICT OF NEW YORK**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **In re:**<br>**SPIRIT FINANCE CAYMAN 1 LTD.,**<br>**Debtor.**<sup>1</sup><br>| &nbsp;&nbsp; **Chapter 11**<br>**Case No. 24-12038 (SHL)**<br>|

---

**GLOBAL NOTES AND STATEMENT OF LIMITATION,<br> METHODOLOGY, AND DISCLAIMERS REGARDING<br> <u>THE MONTHLY OPERATING REPORT FOR MARCH 2025</u>**

The (Reorganized) Debtors<sup>2</sup> prepared the attached monthly operating report for the period beginning March 1, 2025, and ending March 11, 2025 (together herewith and with all exhibits and schedules thereto, the "**MOR**").

On November 18, 2024, Spirit Airlines, Inc. (n/k/a Spirit Airlines, LLC) filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "**Bankruptcy Code**") in the United States Bankruptcy Court for the Southern District of New York (the "**Bankruptcy Court**"). On November 25, 2024, Spirit Airlines, Inc.'s subsidiaries (collectively, the "**Cayman Debtors**") filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court. The Chapter 11 Cases were jointly administered for procedural purposes only pursuant to Bankruptcy Rule 1015(b), as ordered by the Bankruptcy Court [ECF No. 121].

On February 20, 2025, the Bankruptcy Court entered the Confirmation Order [ECF No. 500] confirming the Plan and granting related relief. The Plan became effective and was substantially consummated on March 12, 2025 [ECF No. 533]. On March 27, 2025, the Bankruptcy Court entered the *(I) Final Decree Closing Certain of the Chapter 11 Cases and (II) Order Amending the Joint Administration Order* [ECF No. 546], closing all the Chapter 11 Cases other than that of Spirit Finance Cayman 1 Ltd. (No. 24-12038).

The following notes and statements and limitations pertain to, are incorporated by reference in, and comprise an integral part of, the MOR, and should be referred to and considered in connection with any review thereof.

1. **Basis of Presentation**. The (Reorganized) Debtors prepared the MOR with the assistance of their
advisors and professionals, and are filing it solely for purposes of complying with the reporting requirements applicable in the Chapter
11 Cases. There can be no assurance that such information is complete, and the MOR may be subject to revision.

<sup>1</sup> The last four digits of the Reorganized Debtor's employer identification number are 7020. The Reorganized Debtor's mailing address is 1731 Radiant Drive, Dania Beach, FL 33004.

<sup>2</sup> Capitalized terms used but not immediately or otherwise defined herein shall have the meanings ascribed to them elsewhere herein or in the *First Amended Joint Chapter 11 Plan of Reorganization of Spirit Airlines, Inc. and Its Debtor Affiliates* [ECF No. 500, Ex. A] (the "**Plan**"), as applicable. The rules of interpretation set forth in <u>Article I.B</u> of the Plan shall apply hereto.

This MOR is unaudited, limited in scope, and has not been prepared in accordance with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder, but has been prepared in accordance with accounting principles generally accepted in the United States of America ("**U.S. GAAP**") (except that the MOR does not include all information and footnotes required by U.S. GAAP).

The (Reorganized) Debtors and their agents, advisors, attorneys, and other professionals undertake no responsibility to indicate variations from securities laws, other laws, or generally accepted accounting principles herein, or for any evaluations of the (Reorganized) Debtors based on this financial information or any other information. This information has not been subjected to audit procedures that would typically be applied to financial information presented in accordance with U.S. GAAP or any other recognized financial reporting framework, and upon application of such procedures, the presented financial information could be subject to material changes. The MOR is not intended to reconcile to any financial statements otherwise prepared or distributed by or for the (Reorganized) Debtors. Each signatory to the MOR has necessarily relied upon the efforts, statements, advice, and representations of personnel of the (Reorganized) Debtors and their agents, advisors, attorneys, and other professionals. Each signatory has not (and could not have) personally verified the accuracy of each such statement, representation, and answer contained in the MOR.

The financial information contained herein is presented per Spirit's books and records without, among other things, all adjustments or reclassification that may be necessary or typical with respect to consolidating financial statements or SEC reporting purposes or in accordance with U.S. GAAP. The (Reorganized) Debtors' accounting systems, policies, and practices were developed to produce consolidated financial statements at the Spirit Airlines, Inc. (n/k/a Spirit Airlines, LLC) reporting entity rather than financial statements at each individual legal entity. The Cayman Debtors do not have day-to-day business operations or physical presence and thus do not traditionally maintain books and records. Upon agreement reached with the United States Trustee for the Southern District of New York (the "**U.S. Trustee**"), the Cayman Debtors are to provide information for Part 1 and Part 7, with limited information on cash balances for Part 2 of the MOR form and provide no financial statement attachments at the entity-level. As such, intercompany balances, historical retained earnings, and equity balances for the Cayman Debtors are not reflected in the separate MORs for each of the Cayman Debtors as these were not historically maintained in the (Reorganized) Debtors' accounting system.

2. **Reporting Period**. Unless otherwise noted, the MOR reflects the (Reorganized) Debtors' books
and records and financial activity occurring during the applicable reporting period. Except as otherwise noted, no adjustments have been
made to activity occurring after the close of the reporting period. The first monthly operating reports encompassed the reporting period
from November 18, 2024, until the end of the month, November 30, 2024, with the exception of the Debtors' Statement of Operations
attachment and information provided in Part 4, both of which were provided on a full-month basis. The monthly operating reports for December
2024, January 2025, and February 2025 encompassed each entire month. This MOR encompasses activity from March 1, 2025, through and including
March 11, 2025, the day before the Plan's Effective Date.

*3.* **Disbursement Systems**. Cash was received and disbursed by the Debtors in a manner consistent with
the Debtors' historical cash management practices, as described in the *Motion* 

*of the Debtor for Entry of Interim and Final Orders (I) Authorizing (A) the Debtors to Maintain their Existing Cash Management System, Bank Accounts, and Business Forms, (B) the Debtors to Open and Close Bank Accounts, and (C) Financial Institutions to Administer the Bank Accounts and Honor and Process Related Checks and Transfers, (II) Waiving Deposit and Investment Requirements, and (III) Allowing Intercompany Transactions and Affording Administrative Expense Priority to Post-Petition Intercompany Claims* [ECF No. 7].

4. **Use of Information**. The financial information disclosed herein was not prepared in accordance with
federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements
thereunder. The MOR should not be used or relied upon for any other purpose, including for information relating to the (Reorganized) Debtors'
current or future financial condition or performance or for purchasing, selling, or transferring the claims against or equity interests
in the (Reorganized) Debtors.

5. **Payment of Prepetition Claims Pursuant to First Day Orders**. Pursuant to certain "first day"
orders entered by the Bankruptcy Court in the Chapter 11 Cases (collectively, the "**First Day Orders** "), the Debtors
were authorized (but not directed) to pay or otherwise satisfy various prepetition claims, including those related to employees, lienholders,
customer obligations, insurance, vendors, taxes and fees, trade, and intercompany transactions. To the extent any reportable payments
were made on account of prepetition claims following commencement of these Chapter 11 Cases pursuant to a First Day Order, such payments
have been included in the applicable reporting matrices or notices required per, and identified in, each respective final First Day Order.

6. **Reservation of Rights**. Although the (Reorganized) Debtors and their advisors made reasonable efforts
to ensure that the MOR is as accurate and complete as possible under the circumstances and based on information available at the time
of preparation, inadvertent errors or omissions may have occurred. The Reorganized Debtors hereby reserve all rights to dispute the nature,
amount, validity, status, enforceability, or executory natures of any claim, agreement, representation, or other statement set forth in
this MOR. Further, the Reorganized Debtors reserve the right to amend or supplement the MOR in all respects, as they deem necessary or
appropriate, but shall be under no obligation to do so. Nothing contained in this MOR shall constitute a waiver of the Reorganized Debtors'
rights or an admission of any kind with respect to these Chapter 11 Cases or any claim of or against any Reorganized Debtor.

7. **Specific MOR Disclosures**.

**Notes to Part 1**:

· Cash balances, receipts, and disbursements reflect
bank activity during the reporting period. Timing differences in recognition of certain transactions may create differences between bank
balances presented in Part 1 and cash balances reported in the Balance Sheet attachment to the MOR.

· Where applicable, the (Reorganized) Debtors convert
non-USD cash transactions to USD using applicable currency exchange rates. As a result, changes in currency exchange rates give rise to
month-over-month fluctuations in cash balances which are reported in USD.

· Intercompany receipts and disbursements are excluded
from Parts 1(b) and 1(c), respectively. As such, the ending cash balances in Part 1 will not comport with the ending cash balances in
the (Reorganized) Debtors' bank statements or the (Reorganized) Debtors' books and records.

A reconciliation of end-of-month bank balances to the balances presented in Part 1 is provided in the attached Statement of Cash Receipts and Disbursements.

**Notes to Part 2**:

· Part 2 balances for the Cayman Debtors only include
the cash balances for total current assets and total assets. Historical intercompany asset and liabilities balances as well as historical
equity balances are not provided. No other Part 2 balances are applicable to the Cayman Debtors.

· Balances reflected in Part 2(g) are accrued due
to timing of payment cycles. A small amount of past due invoices were subsequently paid within the next payment cycle. The total
overdue post-petition amount as of March 11, 2025, was approximately $2.7 million.

**Notes to Part 3**:

· None

**Notes to Part 4**:

· Part 4(e) does not incorporate certain general
and administrative expenses related to payroll, technology, or other expenses that would otherwise be considered as general and administrative
expenses for purposes of MOR reporting. This is due to the setup of the (Reorganized) Debtors' accounting system—the (Reorganized)
Debtors do not separately classify expenses in their general ledger accounts between general and administrative expense financial statement
line items.

**Notes to Part 5**:

· Part 5(a) includes payments made to Epiq Corporate
Restructuring LLC in its capacity as claims and noticing agent in the Chapter 11 Cases [ECF No. 50].

· Part 5(b) reflects payments made in accordance
with the Bankruptcy Court's *Order Authorizing the Retention and Compensation of Professionals Utilized in the Ordinary Course of Business* [ECF No. 266].

· Part 5(c) includes payments made to professionals
of various creditor constituencies in the Chapter 11 Cases (including in accordance with the Bankruptcy Court's Final DIP Order
[ECF No. 257]).

**Notes to Part 6**:

· None

**Notes to Part 7**:

· For Part 7(a), pursuant to the relief granted
via the First Day Orders, the Debtors made payments on account of certain prepetition debts as they come due in the ordinary course of
business. Where required, details of these payments have been delivered to the required notice parties pursuant to the reporting requirements
contained within the final First Day Orders.

· For purposes of Part 7(c), the (Reorganized)
Debtors included information with respect to the individuals that the (Reorganized) Debtors believe may be included in the definition
of "insider" set forth in section 101(31) of the Bankruptcy Code during the reporting period. Such individuals may no longer
serve in such capacities. Persons listed as "insiders" have been

included for informational purposes only and their inclusion shall not constitute an admission that those entities or persons are insiders for purposes of section 101(31) of the Bankruptcy Code. The listing of a person as an insider for purposes of the MOR is not intended to be, nor should it be, construed as an admission of any fact, right, claim, or defense and all such rights, claims, and defenses are hereby expressly reserved. Information regarding the individuals listed as insiders in the MOR has been included for informational purposes only and such information may not be used for any purpose, including to determine (a) control of any (Reorganized) Debtor, (b) the extent to which any individual exercised management responsibilities or functions, (c) corporate decision-making authority over any (Reorganized) Debtor, or (d) whether such individual could successfully argue that he or she is not an insider under applicable law, including the Bankruptcy Code and federal securities laws, or with respect to any theories of liability. Where Part 7(c) is indicated as "Yes," such persons were confirmed to have received employee compensation payments in the ordinary course of business.

\*\*\*

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UNITED STATES BANKRUPTCY COURT Southern DISTRICT OF New York In Re. Spirit Airlines, Inc. Debtor(s) † † † † Case No. 24 - 11988 Lead Case No. 24 - 11988 Jointly Administered Monthly Operating Report Chapter 11 Reporting Period Ended: 03/11/2025 Petition Date: 11/18/2024 Months Pending: 4 1 1 8 4 Industry Classification: Reporting Method: Accrual Basis Cash Basis Debtor's Full - Time Employees (current): 6,892 Debtor's Full - Time Employees (as of date of order for relief): 7,384 Supporting Documentation (check all that are attached): (For jointly administered debtors, any required schedules must be provided on a non - consolidated basis for each debtor) Statement of cash receipts and disbursements Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit Statement of operations (profit or loss statement) Accounts receivable aging Postpetition liabilities aging Statement of capital assets Schedule of payments to professionals Schedule of payments to insiders All bank statements and bank reconciliations for the reporting period Description of the assets sold or transferred and the terms of the sale or transfer Printed Name of Responsible Party Date /S/ Moshe Melcer Signature of Responsible Party 06/06/2025 Moshe Melcer 1 UST Form 11 - MOR (12/01/2021) 450 Lexington Ave New York, NY 10017 Address STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. † 1320.4(a)(2) applies.

![](ex9902_002.jpg)

Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Part 1: Cash Receipts and Disbursements Current Month Cumulative $991,296,002 $161,721,710 $2,013,377,427 $177,197,484 $1,911,519,808 $975,820,227 $0 $177,197,484 $0 a. Cash balance beginning of month b. Total receipts (net of transfers between accounts) c. Total disbursements (net of transfers between accounts) d. Cash balance end of month (a+b - c) e. Disbursements made by third party for the benefit of the estate f. Total disbursements for quarterly fee calculation (c+e) $1,911,519,808 Current Month Part 2: Asset and Liability Status (Not generally applicable to Individual Debtors. See Instructions.) $201,681,304 $46,504,098 (attach explanation)) $0 $1,877,497,625 $9,372,673,424 $1,247,196,174 $0 $118,603,515 $0 $1,365,799,689 $1,739,661,993 $8,217,239 $6,705,495,310 $9,819,174,231 a. Accounts receivable (total net of allowance) b. Accounts receivable over 90 days outstanding (net of allowance) c. d e. f. g. h. i. j. k. l. m. n. o. Inventory (Book Market Other Total current assets Total assets Postpetition payables (excluding taxes) Postpetition payables past due (excluding taxes) Postpetition taxes payable Postpetition taxes past due Total postpetition debt (f+h) Prepetition secured debt Prepetition priority debt Prepetition unsecured debt Total liabilities (debt) (j+k+l+m) Ending equity/net worth (e - n) $- 446,500,806 Part 3: Assets Sold or Transferred Current Month Cumulative $0 $42,828,451 $0 $17,185,447 c. a. Total cash sales price for assets sold/transferred outside the ordinary course of business b. Total payments to third parties incident to assets being sold/transferred outside the ordinary course of business Net cash proceeds from assets sold/transferred outside the ordinary course of business (a - b) $0 $25,643,004 Cumulative Current Month Part 4: Income Statement (Statement of Operations) (Not generally applicable to Individual Debtors. See Instructions.) $125,126,841 a. Gross income/sales (net of returns and allowances) $127,020,491 b. Cost of goods sold (inclusive of depreciation, if applicable) $- 1,893,650 c. Gross profit (a - b) $5,013,255 d. Selling expenses $24,489,007 e. General and administrative expenses $38,075,160 f. Other expenses $9,101,550 g. Depreciation and/or amortization (not included in 4b) $- 10,609,259 h. Interest $16,613,173 i. Taxes (local, state, and federal) $6,145,971 j. Reorganization items $- 638,930,084 $- 90,722,509 k. Profit (loss) 2 UST Form 11 - MOR (12/01/2021)

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3 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Part 5: Professional Fees and Expenses Paid Cumulative Paid Current Month Approved Cumulative Approved Current Month a. $862,166 $216,331 $862,166 $216,331 Debtor's professional fees & expenses (bankruptcy) Aggregate Total Itemized Breakdown by Firm Role Firm Name $862,166 $216,331 $862,166 $216,331 Other EPIQ SYSTEMS ACQUISITIO i ii iii iv v vi vii viii ix x xi xii xiii xiv xv xvi xvii xviii xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi

![](ex9902_004.jpg)

4 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 xxxvi i xxxvi i xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxvii

![](ex9902_005.jpg)

5 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 lxxix lxxx lxxxi lxxxii lxxxii lxxxi v lxxxv lxxxv i lxxxv i lxxxv i lxxxi x xc xci xcii xciii xciv xcv xcvi xcvii xcviii xcix c ci Paid Cumulative Paid Current Month Approved Cumulative Approved Current Month b. $1,680,082 $716,363 $1,680,082 $716,363 Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total Itemized Breakdown by Firm Role Firm Name $60,938 $51,500 $60,938 $51,500 Other ABOGADOS SIERRA Y VAZ i ii $18,890 $6,380 $18,890 $6,380 Other ALEJANDRO FRANCO, P.A. iii iv $25,310 $0 $25,310 $0 Other CLARK HILL P.L.C. v vi vii viii $30,942 $147 $30,942 $147 Other ESTUDIO SPINGARN & MAR ix x $37,857 $1,311 $37,857 $1,311 Other FORD & HARRISON LLP xi $28,133 $8,435 $28,133 $8,435 Other FRANK WEINBERG & BLAC xii $3,005 $0 $3,005 $0 Other GREENBERG TRAURIG PA xiii $24,098 $0 $24,098 $0 Other JOSE LLOREDA CAMACHO xiv

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6 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 $9,364 $0 $9,364 $0 Other KELLEY KRONENBERG xv $526,887 $199,972 $526,887 $199,972 Other KIRSTEIN & YOUNG PLLC xvi $216,303 $89,262 $216,303 $89,262 Other LITTLER MENDELSON xvii $51,334 $51,334 $51,334 $51,334 Other O'MELVENY & MYERS LLP xviii xix $100,800 $61,370 $100,800 $61,370 Other PAUL, WEISS, RIFKIND, WH xx xxi xxii $99,778 $51,910 $99,778 $51,910 Other SMITH GAMBRELL & RUSS xxiii $115,185 $110,595 $115,185 $110,595 Other STUDIO LEGAL SONIA CAB xxiv $3,506 $2,510 $3,506 $2,510 Other TAFT STETTINIUS & HOLLI xxv $41,882 $9,756 $41,882 $9,756 Other THE FOONT LAW FIRM, LLC xxvi $279,750 $71,881 $279,750 $71,881 Other WALKERS xxvii $6,119 $0 $6,119 $0 Other WILMER CUTLER PICKERIN xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi xxxvi i xxxvi i xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi

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7 UST Form 11 - MOR (12/01/2021) Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxvii lxxix lxxx lxxxi lxxxii lxxxii lxxxi v lxxxv lxxxv i lxxxv i lxxxv i lxxxi x xc xci xcii xciii xciv xcv xcvi xcvii xcviii

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 xcix c $16,891,193 $5,129,042 $16,891,193 $5,129,042 c. All professional fees and expenses (debtor & committees) Part 6: Postpetition Taxes Current Month Cumulative $175,524 $175,524 a. Postpetition income taxes accrued (local, state, and federal) $0 $0 b. Postpetition income taxes paid (local, state, and federal) $80,439 $80,439 c. Postpetition employer payroll taxes accrued $26,501,604 $2,712,173 d. Postpetition employer payroll taxes paid $5,015,056 $0 e. Postpetition property taxes paid $117,093,672 $117,093,672 f. Postpetition other taxes accrued (local, state, and federal) $311,788,156 $61,755,767 g. Postpetition other taxes paid (local, state, and federal) Part 7: Questionnaire - During this reporting period: Yes Yes No No Yes Yes Yes Yes Yes No No No No No h. a. Were any payments made on prepetition debt? (if yes, see Instructions) b. Were any payments made outside the ordinary course of business without court approval? (if yes, see Instructions) c. Were any payments made to or on behalf of insiders? d. Are you current on postpetition tax return filings? e. Are you current on postpetition estimated tax payments? f. Were all trust fund taxes remitted on a current basis? g. Was there any postpetition borrowing, other than trade credit? (if yes, see Instructions) Were all payments made to or on behalf of professionals approved by the court? Yes No N/A i. Do you have: N/A (if no, see Instructions) N/A (if no, see Instructions) Worker's compensation insurance? If yes, are your premiums current? Casualty/property insurance? If yes, are your premiums current? General liability insurance? If yes, are your premiums current? N/A (if no, see Instructions) j. Has a plan of reorganization been filed with the court? k. Has a disclosure statement been filed with the court? l. Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. † 1930 ? Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No 8 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Part 8: Individual Chapter 11 Debtors (Only) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Yes No Yes No N/A a. Gross income (receipts) from salary and wages b. Gross income (receipts) from self - employment c. Gross income from all other sources d. Total income in the reporting period (a+b+c) e. Payroll deductions f. Self - employment related expenses g. Living expenses h. All other expenses i. Total expenses in the reporting period (e+f+g+h) j. Difference between total income and total expenses (d - i) k. List the total amount of all postpetition debts that are past due l. Are you required to pay any Domestic Support Obligations as defined by 11 U.S.C † 101(14A)? m. If yes, have you made all Domestic Support Obligation payments? Privacy Act Statement 28 U.S.C. † 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. †† 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. † 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progress through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or fore ign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee's systems of records notice, UST - 001, "Bankruptcy Case Files and Associated Records." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http:// www.justice.gov/ust/eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. † 1112(b)(4)(F). I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate. /S/ Fred Cromer Signature of Responsible Party Chief Financial Officer Printed Name of Responsible Party 06/06/2025 Date Title Fred Cromer 9 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 PageOnePartOne PageOnePartTwo PageTwoPartOne PageTwoPartTwo 10 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 Bankruptcy51to100 NonBankruptcy1to50 NonBankruptcy51to100 Bankruptcy1to50 11 UST Form 11 - MOR (12/01/2021)

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Debtor's Name Spirit Airlines, Inc. Case No. 24 - 11988 PageFour P a g e T h ree 12 UST Form 11 - MOR (12/01/2021)

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United States Bankruptcy Court Southern District of New York In re: Spirit Airlines, Inc. Case No: 24 - 11988 Cash activity for the period of 3/1/2025 - 3/11/2025 $ in USD Combined Debtor Spirit Airlines, Inc. Spirit Finance Spirit Finance Spirit IP Cayman Ltd. Spirit Loyalty Cayman Ltd. 24 - 12041 24 - 12040 Cayman 2 Ltd. 24 - 12039 Cayman 1 Ltd. 24 - 12038 24 - 11988 Entities In US $ Unless Otherwise Indicated 43,203,937 12 - - 991,296,002 1,034,499,951 Beginning Cash/Restricted Cash Bank Balance (3/1) - - - - 161,721,710 161,721,710 Receipts from third party - - - - 177,197,484 177,197,484 Disbursements to third party - $- $12 $43,203,937 $$975,820,227 $1,019,024,177 End Cash/Restrict Cash, net of intercompany activity - - - 1,826,986 (1,691,986) 135,000 Intercompany activities Intercompany receipts (disbursements) - $- $12 $45,030,923 $$974,128,241 $1,019,159,177 Ending Cash/Restricted Cash Bank Balance (3/11) - - - - 106,064 106,064 Currency translation and funds in transit - $- $12 $45,030,923 $$974,234,305 $1,019,265,241 Ending Cash/Restricted Cash Balance Adjusted

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United States Bankruptcy Court Southern District of New York In re: Spirit Airlines, Inc. Case No: 24 - 11988 March 2025 Balance Sheet Spirit Airlines, Inc. $ in USD Total for Period Ended 3/11/2025 678,382,268 Cash and cash equivalents 171,324,684 Restricted cash 119,315,296 Short - term investment securities 201,681,304 Accounts receivable, net 475 Income tax receivable 706,793,598 Prepaid expenses and other current assets $1,877,497,625 Total current assets 2,739,143,217 Flight equipment 787,606,600 Ground property and equipment (1,062,115,655) Less accumulated depreciation 4,631,427,958 Operating lease right - of - use assets 85,494,785 Pre - delivery deposits on flight equipment 246,575,551 Deferred heavy maintenance, net 67,043,343 Other long - term assets $7,495,175,799 Total non - current assets $9,372,673,424 Total assets 52,241,930 Accounts payable 518,668,463 Air traffic liability 471,698,161 Current maturities of long - term debt, net, and finance leases 259,713,150 Current maturities of operating leases 623,035,322 Other current liabilities $1,925,357,026 Total current liabilities 1,704,516,920 Long - term debt and finance leases, less current maturities 4,380,845,468 Operating leases, less current maturities 52,555,913 Deferred income taxes 120,794,904 Deferred gains and other long - term liabilities 1,635,104,000 Liability subject to compromise $7,893,817,205 Total non - current liabilities $9,819,174,230 Total liabilities $(446,500,806) Net assets 10,900 Common stock 1,174,924,995 Additional paid - in - capital (81,285,357) Treasury stock (1,540,278,219) Retained earnings 126,875 Accumulated other comprehensive income (loss) $(446,500,806) Total equity

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United States Bankruptcy Court Southern District of New York In re: Spirit Airlines, Inc. Case No: 24 - 11988 Income Statement 3/1/2025 - 3/11/2025 $ in USD Spirit Airlines, Inc. Month Ended 3/11/2025 123,112,349 Passenger 2,014,491 Other $125,126,841 Total operating revenues 36,667,981 Aircraft fuel 48,788,459 Salaries, wages and benefits 11,209,620 Landing fees and other rents 19,285,096 Aircraft rent 9,101,550 Depreciation and amortization 11,069,335 Maintenance, materials and repairs 5,013,255 Distribution 24,489,007 General and administrative - Special charges (credits) 16,864,953 Loss on disposal of assets (762,311) Other operating $181,726,946 Total operating expenses $(56,600,105) Operating income (loss) (9,236,198) Interest expense - Loss (gain) on extinguishment of debt (148,934) Capitalized interest (1,224,127) Interest income 6,145,971 Reorganization Items 21,972,518 Other (income) expense 17,509,230 Total other (income) expense 16,613,173 Provision (benefit) for income taxes (90,722,509) Net income (loss)

## Exhibit 99.3

**Exhibit 99.3**

**UNITED STATES BANKRUPTCY COURT<br> SOUTHERN DISTRICT OF NEW YORK**

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| | |
|:---|:---|
| **In re:**<br>**SPIRIT FINANCE CAYMAN 1 LTD.,**<br>**Debtor.<sup>1</sup>**<br>| &nbsp;&nbsp; **Chapter 11**<br>**Case No. 24-12038 (SHL)**<br>|

---

**GLOBAL NOTES AND STATEMENT OF<br> LIMITATION, METHODOLOGY, AND DISCLAIMERS REGARDING<br> <u>THE POST CONFIRMATION REPORT FOR THE PERIOD ENDING MARCH 31, 2025</u>**

The Reorganized Debtors<sup>2</sup> prepared the attached monthly operating report for the period beginning March 12, 2025 (the "**Effective Date**"), and ending on March 27, 2025, or March 31, 2025, as applicable (together herewith and with all exhibits and schedules thereto, the "**PCR**").

On November 18, 2024, Spirit Airlines, Inc. (n/k/a Spirit Airlines, LLC) filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "**Bankruptcy Code**") in the United States Bankruptcy Court for the Southern District of New York (the "**Bankruptcy Court**"). On November 25, 2024, Spirit Airlines, Inc.'s subsidiaries (collectively, the "**Cayman Debtors**") filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court. The Chapter 11 Cases were jointly administered for procedural purposes only pursuant to Bankruptcy Rule 1015(b), as ordered by the Bankruptcy Court [ECF No. 121].

On February 20, 2025, the Bankruptcy Court entered the Confirmation Order [ECF No. 500] confirming the Plan and granting related relief. The Plan became effective and was substantially consummated on March 12, 2025 [ECF No. 533]. On March 27, 2025, the Bankruptcy Court entered the *(I) Final Decree Closing Certain of the Chapter 11 Cases and (II) Order Amending the Joint Administration Order* [ECF No. 546] (the "**First Final Decree**"), closing all the Chapter 11 Cases other than that of Spirit Finance Cayman 1 Ltd. (No. 24-12038) (the "**Open Case**").

The following notes and statements and limitations pertain to, are incorporated by reference in, and comprise an integral part of, the PCR, and should be referred to and considered in connection with any review thereof.

1. **Basis of Presentation**. The
Reorganized Debtors and their affiliates (collectively, "**Spirit**") prepared the PCR with the assistance of their advisors
and professionals, and are filing it solely

<sup>1</sup> The last four digits of the Reorganized Debtor's employer identification number are 7020. The Reorganized Debtor's mailing address is 1731 Radiant Drive, Dania Beach, FL 33004.

<sup>2</sup> Capitalized terms used but not immediately or otherwise defined herein shall have the meanings ascribed to them elsewhere herein or in the *First Amended Joint Chapter 11 Plan of Reorganization of Spirit Airlines, Inc. and Its Debtor Affiliates* [ECF No. 500, Ex. A] (the "**Plan**"), as applicable. The rules of interpretation set forth in <u>Article I.B</u> of the Plan shall apply hereto.

for purposes of complying with the reporting requirements applicable in the Chapter 11 Cases. There can be no assurance that such information is complete, and the PCR may be subject to revision.

This PCR is unaudited, limited in scope, and has not been prepared in accordance with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder, but has been prepared in accordance with accounting principles generally accepted in the United States of America ("**U.S. GAAP**") (except that the PCR does not include all information and footnotes required by U.S. GAAP).

Spirit and its agents, advisors, attorneys, and other professionals undertake no responsibility to indicate variations from securities laws, other laws, or generally accepted accounting principles herein, or for any evaluations of Spirit based on this financial information or any other information. This information has not been subjected to audit procedures that would typically be applied to financial information presented in accordance with U.S. GAAP or any other recognized financial reporting framework, and upon application of such procedures, the presented financial information could be subject to material changes. The PCR is not intended to reconcile to any financial statements otherwise prepared or distributed by or for Spirit. Each signatory to the PCR has necessarily relied upon the efforts, statements, advice, and representations of Spirit personnel and their agents, advisors, attorneys, and other professionals. Each signatory has not (and could not have) personally verified the accuracy of each such statement, representation, and answer contained in the PCR.

The financial information contained herein is presented per Spirit's books and records without, among other things, all adjustments or reclassification that may be necessary or typical with respect to consolidating financial statements or SEC reporting purposes or in accordance with U.S. GAAP.

2. **Reporting Period**. Unless otherwise noted, the PCR reflects Spirit's books and
records and financial activity occurring during the applicable reporting period. Except as otherwise noted, no adjustments
have been made to activity occurring after the close of the reporting period. For Spirit Finance Cayman 1 Ltd., this PCR encompasses
activity from March 12, 2025, until the end of the first quarter, March 31, 2025. For all other Reorganized Debtors (*i.e.*,
the Reorganized Debtors whose Chapter 11 Cases were closed pursuant to the First Final Decree (the "**Closed Cases** ")),
this PCR encompasses activity from March 12, 2025, through and including March 27, 2025.

3. **Use of Information**. The financial information disclosed herein was not prepared in accordance
with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements
thereunder. The PCR should not be used or relied upon for any other purpose, including for information relating to Spirit's
current or future financial condition or performance or for purchasing, selling, or transferring the claims against or equity interests
in Spirit.

4. **Reservation of Rights**. Although Spirit and its advisors made reasonable efforts to ensure
that the PCR is as accurate and complete as possible under the circumstances and based on information available at the time of preparation,
inadvertent errors or omissions may have

occurred. Spirit hereby reserves all rights to dispute the nature, amount, validity, status, enforceability, or executory natures of any claim, agreement, representation, or other statement set forth in this PCR. Further, Spirit reserves the right to amend or supplement the PCR in all respects, as it deems necessary or appropriate, but shall be under no obligation to do so. Nothing contained in this PCR shall constitute a waiver of Spirit's rights or an admission of any kind with respect to these Chapter 11 Cases or any claim of or against Spirit.

5. **Specific PCR Disclosures**.

**Part 1: Summary of Transfers**

<u>Cash Disbursements</u>

Cash disbursements are based on Spirit's bank activities. Where applicable, Spirit converts non-USD cash balances to USD using applicable currency exchange rates from the last day of the applicable month. As a result, changes in currency exchange rates give rise to month-over-month fluctuations in cash balances which are reported in USD.

Intercompany receipts and disbursements amongst the Reorganized Debtors are excluded from Part 1. As such, the ending cash balances in Part 1 are reflected excluding those transfers and may not reconcile to the Debtor's bank activities or books and records.

<u>Non-cash Securities Transferred</u>

Upon emergence, in accordance with the Plan, the Reorganized Debtors issued of 40,322,578 units of New Equity Interests (including in the form of Pre-Funded Warrants), at $18.21 per unit.

**Part 2: Pre-Confirmation Professional Fees and Expenses**

Part 2(b) reflects payments made in accordance with the Bankruptcy Court's *Order Authorizing the Retention and Compensation of Professionals Utilized in the Ordinary Course of Business* [ECF No. 266].

Part 2(c) includes payments made to professionals of various creditor constituencies in the Chapter 11 Cases (including in accordance with the Bankruptcy Court's Final DIP Order [ECF No. 257]).

**Part 3: Recoveries of the Holders of Claims and Interests under Confirmed Plan**

<u>Administrative Claims</u>

Among other things, this category includes payment in full of all DIP Superpriority Claims, payments made to professionals of various creditor constituencies in the Chapter 11 Cases, post-confirmation payments made to various ordinary course professionals in accordance with the Bankruptcy Court's *Order Authorizing the Retention and Compensation of Professionals Utilized in the Ordinary Course of Business* [ECF No. 266], post-confirmation payments made to Epiq Corporate Restructuring LLC in its capacity as claims and noticing agent in the Chapter 11 Cases [ECF No. 50], and payment of certain U.S. Trustee Fees.

Finally, because the Plan requires that all other Allowed Administrative Claims—including such Claims that arose in the ordinary course of the Debtors' business—be paid upon emergence or upon such payments becoming due, Spirit Airlines, LLC's PCR indicates that all Administrative Claims have been paid or are in line to be paid.

<u>Secured Claims</u>

This category includes Other Secured Claims, Prepetition RCF Claims, and Senior Secured Notes Claims. Because the Plan requires that all Allowed Other Secured Claims—including such Claims that arose in the ordinary course of the Debtors' business—be paid in full upon emergence or upon such payments becoming due, or that such Claims be Reinstated, Spirit Airlines, LLC's PCR indicates that all such Claims have been paid.

<u>Priority Claims</u>

Because the Plan requires that all Allowed Tax Priority Claims and Other Priority Claims—including such Claims that arose in the ordinary course of the Debtors' business—be paid in full upon emergence or upon such payments becoming due, or that such Claims be Reinstated, Spirit Airlines, LLC's PCR indicates that all such Claims have been paid.

<u>General Unsecured Claims</u>

This category includes Convertible Notes Claims and General Unsecured Claims. Because the Plan requires that all Allowed and General Unsecured Claims—including such Claims that arose in the ordinary course of the Debtors' business—be Reinstated or otherwise Unimpaired, Spirit Airlines, LLC's PCR indicates that all such Claims have been paid.

**\*\*\***

![](ex9903_001.jpg)

UNITED STATES BANKRUPTCY COURT Southern DISTRICT OF New York In re: Spirit Airlines, LLC Debtor(s) † † † † Case No. 24 - 11988 Lead Case No. 24 - 11988 Jointly Administered Post - confirmation Report Chapter 11 Quarter Ending Date: 03/31/2025 Petition Date: 11/18/2024 Plan Confirmed Date:02/20/2025 Plan Effective Date: 03/12/2025 Printed Name of Responsible Party /S/ Moshe Melcer Moshe Melcer Date Signature of Responsible Party 06/06/2025 450 Lexington Ave New York, NY 10017 Address STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. † 1320.4(a)(2) applies. Reorganized Debtor Other Authorized Party or Entity: This Post - confirmation Report relates to: UST Form 11 - PCR (12/01/2021) 1 Name of Authorized Party or Entity

![](ex9903_002.jpg)

UST Form 11 - PCR (12/01/2021) 2 Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 Part 1: Summary of Post - confirmation Transfers Total Since Effective Date Current Quarter $939,970,921 $939,970,921 a. Total cash disbursements $734,370,017 $734,370,017 b. Non - cash securities transferred $0 $0 c. Other non - cash property transferred $1,674,340,938 $1,674,340,938 d. Total transferred (a+b+c) Part 2: Preconfirmation Professional Fees and Expenses Paid Cumulative Paid Current Quarter Approved Cumulative Approved Current Quarter a. Professional fees & expenses (bankruptcy) incurred by or on behalf of the debtor Aggregate Total Itemized Breakdown by Firm Role Firm Name i ii iii iv v vi vii viii ix x xi xii xiii xiv xv xvi xvii xviii xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix

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UST Form 11 - PCR (12/01/2021) 3 Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi xxxvii xxxvii xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi

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UST Form 11 - PCR (12/01/2021) 4 Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxvii i lxxix lxxx lxxxi lxxxii lxxxii i lxxxiv lxxxv lxxxvi lxxxvi lxxxvi lxxxix xc xci xcii xciii xciv xcv xcvi xcvii xcviii xcix c ci Paid Cumulative Paid Current Quarter Approved Cumulative Approved Current Quarter b. $238,370 $238,370 $238,370 $238,370 Professional fees & expenses (nonbankruptcy) incurred by or on behalf of the debtor Aggregate Total Itemized Breakdown by Firm Role Firm Name i $10,834 $10,834 $10,834 $10,834 Other ESTUDIO SPINGARN & MAR ii $5,160 $5,160 $5,160 $5,160 Other GREENBERG TRAURIG PA iii iv v $28,114 $28,114 $28,114 $28,114 Other LITTLER MENDELSON vi

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UST Form 11 - PCR (12/01/2021) 5 Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 $125,362 $125,362 $125,362 $125,362 Other KIRSTEIN & YOUNG PLLC vii viii $43,769 $43,769 $43,769 $43,769 Other SMITH GAMBRELL & RUSS ix $3,173 $3,173 $3,173 $3,173 Other FRANK WEINBERG & BLAC x $11,529 $11,529 $11,529 $11,529 Other ABOGADOS SIERRA Y VAZ xi $4,926 $4,926 $4,926 $4,926 Other ALEJANDRO FRANCO, P.A. xii $780 $780 $780 $780 Other FORD & HARRISON LLP xiii xiv xv xvi xvii xviii xix xx xxi xxii xxiii $4,724 $4,724 $4,724 $4,724 Other MC AFEE & TAFT xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi xxxvii xxxvii xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii

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UST Form 11 - PCR (12/01/2021) 6 Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 xlix l li lii liii liv lv lvi lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxviii lxxix lxxx lxxxi lxxxii lxxxiii lxxxiv lxxxv lxxxvi lxxxvi lxxxvi lxxxix xc

![](ex9903_007.jpg)

Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 xci xcii xciii xciv xcv xcvi xcvii xcviii xcix c ci $4,990,205 $4,990,205 $4,990,205 $4,990,205 c. All professional fees and expenses (debtor & committees) Part 3: Recoveries of the Holders of Claims and Interests under Confirmed Plan 90% 84% 0% 37% % Paid of Allowed Claims Allowed Claims Paid Cumulative Paid Current Quarter Total Anticipated Payments Under Plan $357,630,624 $322,441,197 $322,441,197 $357,630,624 a. Administrative claims $1,400,000,000 $1,178,549,815 $1,178,549,815 $1,178,549,815 b. Secured claims $0 $0 $0 $0 c. Priority claims $525,477,416 $196,173,579 $196,173,579 $196,173,579 d. General unsecured claims $0 $0 $0 e. Equity interests Part 4: Questionnaire Yes No 03/27/2025 a. Is this a final report? If yes, give date Final Decree was entered: If no, give date when the application for Final Decree is anticipated: b. Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. † 1930? Yes No UST Form 11 - PCR (12/01/2021) 7

![](ex9903_008.jpg)

Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 Privacy Act Statement 28 U.S.C. † 589b authorizes the collection of this information and provision of this information is mandatory. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. † 1930(a)(6) and to otherwise evaluate whether a reorganized chapter 11 debtor is performing as anticipated under a confirmed plan. Disclosure of this information may be to a bankruptcy trustee when the information is needed to perform the trustee's duties, or to the appropriate federal, state, local, regulatory, tribal, or foreign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee's systems of records notice, UST - 001, "Bankruptcy Case Files and Associated Records." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http://www.justice.gov/ust/eo/ rules_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case, or other action by the United States Trustee. 11 U.S.C. † 1112(b)(4)(F). I declare under penalty of perjury that the foregoing Post - confirmation Report and its attachments, if any, are true and correct and that I have been authorized to sign this report. Title /S/ Fred Cromer Signature of Responsible Party Chief Financial Officer Fred Cromer Printed Name of Responsible Party 06/06/2025 Date UST Form 11 - PCR (12/01/2021) 8

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Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 Page 1 Page 2 Minus Tables Bankruptcy Table 1 - 50 Other Page 1 UST Form 11 - PCR (12/01/2021) 9

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Debtor's Name Spirit Airlines, LLC Case No. 24 - 11988 Non - Bankruptcy Table 51 - 100 Non - Bankruptcy Table 1 - 50 Part 3, Part 4, Last Page Bankruptcy Table 51 - 100 UST Form 11 - PCR (12/01/2021) 10