Spirit Airlines Secures $200M Injection, Reshapes Fleet in Restructuring Deal
Spirit Airlines has reached a significant agreement with AerCap, resolving disputes and paving the way for a financial injection. Upon court approval in October, Spirit will receive US$200 million, with US$120 million already available for interim use. This deal, along with other restructuring efforts, aims to stabilise operations and reshape the airline.
The agreement with AerCap involves a US$150 million injection, the shedding of 27 aircraft leases, and the delivery of 30 new aircraft. This deal, subject to court approval on October 10, 2025, is part of Spirit's Chapter 11 restructuring process. Additionally, Spirit has secured approval to exit 12 airport leases and 19 ground handling agreements, aligning its footprint with market realities.
Spirit has also secured a debtor-in-possession financing package worth up to US$475 million from existing bondholders. The company is negotiating with other lessors to combine fresh liquidity with further reductions in fleet size, aiming for substantial cost savings. Furthermore, Spirit is in discussions with labour unions to achieve cost efficiencies through modifications to collective bargaining agreements.
Upon court approval, Spirit will receive a financial boost to stabilise its operations. The agreement with AerCap, along with other restructuring efforts, is expected to significantly improve Spirit's financial position and reshape its future. The company continues to work on cost-saving measures and aligning its footprint with market realities.
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