Spirit Airlines’ stock surged by 60% on Monday after announcing an extension to refinance its debt, avoiding bankruptcy. Shares rose to over $2.30, marking the best day since March 2020. The airline extended a deadline to refinance $1.1 billion in loyalty bonds to Dec. 23 and fully drew down a $300 million credit facility, expecting $1 billion in liquidity by 2025. Analyst Stephen Trent noted a short-term bounce for Spirit, with JetBlue and Frontier shares falling 7% and 2%, respectively.