Spirit Aviation Holdings has petitioned the US Bankruptcy Court to reject 87 aircraft leases, including 19 A320-200s, 65 A320-200Ns and three A321-200NXs, reducing its 214-aircraft fleet to 100 by October 27, 2025.
The move follows an agreement with Dublin based AerCap to reject 27 aircraft leases, resolving disputes and confirming 30 new aircraft deliveries, with many rejected aircraft already out of service due to Pratt & Whitney engine issues.
Spirit’s Chapter 11 filing in August, after a failed €1.7bn JetBlue merger, aims to cut €2.8bn in debt through a 15pc capacity reduction and €10 fare adjustments.
The airline will cease operations at Minneapolis–Saint Paul and Bradley International Airports in 2025, focusing on Florida and Las Vegas hubs, with €440m in financing, including €139m from AerCap.
The restructuring, supported by the Air Line Pilots Association, targets cost savings and network redesign for profitability, with €300m allocated for working capital through early 2026.
Fred Cromer shared “Spirit is committed to redesigning its network to focus flying on key markets, right-sizing its fleet to match capacity with profitable demand.”
The impacted lessors are:
- Air Lease Corporation: one A321-200NX;
- Airborne Capital: one A320-200;
- Aircastle: one A320-200 and four A320-200Ns;
- Aviation Capital Group: seven A320-200Ns, and two A321-200NX;
- Avolon: two A320-200s, and two A320-200N;
- DAE Capital: two A320-200s and one A320-200N;
- Fuyo General Lease: five A320-200Ns;
- GA Telesis: one A320-200;
- ICBC Financial Leasing: three A320-200Ns,
- Jackson Square Aviation: one A320-200 and eighteen A320-200Ns;
- Merx Aviation Finance: three A320-200s and one A320-200N
- ORIX Aviation: one A320-200s and two A320-200Ns;
- SMBC Aviation Capital: four A320-200s and twenty-one A320-200N;
- ST Engineering: two A320-200s;
- Stratos: one A320-200s;
- Vmo Aircraft Leasing: one A320-200N
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