Spirit Airlines Incorporated has made public a recent agreement with Airbus SE to postpone the delivery of all planes on order, initially scheduled for the second quarter of 2025 through the end of 2026. These airline units are now due to arrive in 2030-2031.
Despite this agreement, the aircraft subject to direct-lease and set for delivery within the same time frame in the second and third quarters of 2025 will not be deferred.
The postponement of this substantial order from Airbus enhances Spirit's liquidity position by around $340 million over the coming couple of years.
The timeline for aircraft deliveries set for 2027-2029 remains unaffected by these recent changes.
Alongside engine availability issues from Pratt & Whitney GTF - that have grounded some aircraft - and deferrals for the 2025 and 2026 aircraft, Spirit has stated it plans to furlough approximately 260 pilots to start from September 1, 2024.
The airline has also acknowledged continuing prudent practices to maintain the strength of their balance sheet and ongoing operations. These practices include exploring options for refinancing upcoming debt maturities and bonds.
