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Spirit Airlines close to finalising deal to sell stake.

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

Spirit Airlines is said to be close to finalising a deal to sell a controlling stake in the company.

The airline will sell a controlling stake to venture funding firm Oaktree Capital Management, based in Los Angeles. The financial details of the agreement have not been revealed, although published reports put the price at USD100m to USD125m.

The sale is expected to be completed later this week, reported The Associated Press.

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Publication:Airline Industry Information
Date:Feb 12, 2004
Words:91
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