Spirit Airlines won approval for a $475 million lifeline and a $150 million payment from its biggest aircraft lessor in court on Friday, as the struggling budget airline races to stabilize itself after its second bankruptcy since November.

U.S. Bankruptcy Court for the Southern District of New York approved the $475 million in debtor-in-possession financing, a lifeline that bankrupt companies can use to continue operating, along with $150 million from AerCap and the rejection of 27 airplane leases. Spirit said on Friday that $200 million would be immediately available for the carrier.

Spirit has been cutting dozens of routes , announced plans to slash its fleet, and last month said it would furlough about one third of its flight attendants to cut costs. The airline is

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