
Spirit Airlines sells 20 jets amid bankruptcy struggles
Spirit Airlines sells 20 jets amid bankruptcy struggles
- Spirit Airlines is in the midst of its second bankruptcy after filing for Chapter 11 in August 2025.
- The airline reached an agreement to sell 20 Airbus aircraft for $533.5 million to improve its financial position.
- The sale is expected to provide greater financial flexibility and will not affect the airline's current flight schedule.
Story
In the United States, Spirit Airlines recently moved to improve its financial situation by reaching an agreement to sell 20 of its Airbus jets. This decision comes after the airline filed for Chapter 11 bankruptcy protection for the second time in less than two years. The initial bankruptcy was filed in November 2024, and Spirit underwent its first restructuring by March 2025. By August 2025, the company had filed for bankruptcy again, prompting significant operational changes including service cuts and staff furloughs. The deal to sell the aircraft is valued at approximately $533.5 million and is aimed at alleviating some of the financial pressures faced by the airline. Spirit has stated that most of the planes included in the sale are not currently in service and that they do not anticipate any disruption to their flight schedule, provided the court approves the sale. The company expressed optimism that this transaction will lead to improved financial flexibility. The sale of the aircraft is intended to reduce operational costs and allow Spirit to pay off related debt. The first bidder, CSDS Asset Management, is keen to acquire these planes, and if the court approves the deal, Spirit Airlines will accept competing offers starting at around $554 million. The auction process is set to take place in April. Additionally, Spirit is taking steps to address staffing issues caused by financial constraints. They plan to recall 500 of the more than 1,300 flight attendants who were furloughed in December 2025. The union representing these flight attendants affirmed that the recalls will occur in order of seniority, which is a significant move towards stabilizing operations following the furloughs. The union expressed that this recall is a positive development for the employees affected, as it aims to tackle ongoing operational challenges for the airline.