Spirit Airlines Inc.’s shares soared the most in 13 years of trading after the carrier secured more time to address a troublesome debt load that has raised the prospect of bankruptcy.

Spirit Airlines (NYSE: SAVE) has secured more time to work out its debt burden, easing near-term bankruptcy fears. The stock took off on the news, trading up as much as 73% on Monday morning and up 58% as of 1 p.

Spirit Airlines’ stock swelled by 60% on Monday, on track for the low-cost airline’s best day since going public, after the carrier announced an extension to refinance its debt while temporarily avoiding the threat of bankruptcy.

Spirit Airlines shares soared by as much as 65% on Monday after the budget airline struck a deal to extend its debt refinancing plan by two months. The agreement with US Bank National Association to push the deadline — which was set to expire Monday — until Dec.

Spirit Airlines gave itself some financial breathing room by borrowing $300 million and reaching a new deadline for refinancing a large portion of its debt. The Dania-Beach-based airline posted

Spirit Airlines announced that on October 11, it modified its card processing agreement to extend the deadline for its 2025 notes from October 21 to December 23 and the early maturity date from December 31 to March 3.