Spirit Airlines welcomed its first Airbus A321neo from a recent sale-and-leaseback (SLB) deal. This event marks a key step in the airline’s recovery strategy. The airline received the aircraft on December 21, 2024, after it flew from Hamburg Finkenwerder Airport (XFW) to Keflavik International Airport (KEF). The next day, it flew to Detroit Metropolitan Airport. This move is part of Spirit’s efforts to grow its fleet during its Chapter 11 bankruptcy process.
The new aircraft is part of a four-aircraft SLB transaction approved by the bankruptcy court. The deal aims to give Spirit the cash flow it needs while letting the airline maintain fleet growth through long-term leases. This aircraft, registered as N739NK, is Spirit’s 28th A321neo, joining 91 A320neo planes. Despite operational challenges from grounded aircraft, the deal shows Spirit’s commitment to increasing capacity during bankruptcy.
Spirit is working with Pratt & Whitney, the maker of the A321neo’s engines, to address engine groundings. These groundings affected Spirit’s fleet availability, but the company secured compensation for the grounded planes through 2024. Spirit’s quarterly report lists a $104.7 million credit due to these grounded planes. These inspections led to the delays. Spirit reduced its flight schedule into 2025 due to these issues.
Spirit Airlines is also cutting operations throughout 2025. The airline will reduce weekly departures and available seats to optimize its network. Despite these challenges, Spirit remains focused on strengthening its fleet and operations as it continues its restructuring efforts. Spirit Airlines is focused on fleet expansion and strategic adjustments as it navigates a turbulent financial period.
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