Spirit Airlines to offload almost half of its fleet
Spirit Airlines plans to halve its fleet size as it battles to stay afloat during its current bankruptcy reorganization.
It will let go 100 aircraft, which is nearly half of its entire fleet, said CFO Fred Cromer during a creditors meeting.
The ow-cost-carrier is currently in its second Chapter 11 bankruptcy reorganization process in a year.
The airline currently has a fleet of 214 aircraft.
Spirit said it informed the court of plans to ditch 87 additional aircraft leases.
“The motion is subject to court approval, and we continue to engage with key stakeholders, including our lessors,” the court motion said.
The airline has another three weeks to finalize its aircraft fleet requirements.
Cromer said the downsizing will save ‘hundreds of millions of dollars.’
“While the industry was hopeful at the beginning of 2025 that there would be a rebound, it didn’t happen. That obviously led to the situation that we’re in today,” he added.
It has dropped dozens of underperforming routes, furloughed workers and plans to end about a dozen airport leases and ground handling contracts.
The company also rejected leases on 27 aircraft from AerCap recently.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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