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Spirit Airlines Reports $1.22 Billion Net Loss for 2024 as Revenue Declines

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Spirit Airlines (US) has announced a $1.22 billion net loss for 2024, with operating revenue declining by 8.4% to $4.91 billion. The low-cost carrier continues to face financial headwinds, including weaker demand, operational disruptions, and fleet challenges. Key Financial Performance Metrics Factors Contributing to the Loss Spirit Airlines’ financial struggles stem from multiple challenges, including: Strategic Response and Future Outlook…

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Spirit Airlines Receives $150 Million Compensation from Pratt & Whitney for Grounded Airbus Jets

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Spirit Airlines (US) has secured $150 million in compensation from Pratt & Whitney, addressing financial losses stemming from GTF engine removals affecting its Airbus fleet. The airline anticipates further payments, as engine replacement and maintenance challenges are expected to continue through 2026 and beyond.

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Pratt & Whitney Adds Sanad Group to GTF Engine MRO Network

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Pratt & Whitney (US) is strengthening its global maintenance network for GTF engines, with the addition of Sanad Group (UAE) as a new MRO provider. The partnership will see Sanad Group establish a cutting-edge facility to support GTF engine overhauls, with full operations expected by 2028.

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SWISS Repurposes Engines from Grounded A220-300 for Fleet Use

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SWISS has taken a strategic approach to managing its fleet by repurposing the two PW1524G-3 engines from a grounded A220-300, serial 55021, for use as spare engines. The aircraft has been stranded in Brussels since November 2024 and is now projected to remain out of service until autumn 2025.

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JetBlue CFO Predicts Peak AOG Due to GTF Engine Issues

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JetBlue (US) is bracing for a peak in aircraft on ground (AOG) levels within the next one to two years as it continues to deal with the Pratt & Whitney GTF engine issues affecting its fleet. CFO Ursula Hurley has stated that the airline expects the number of grounded aircraft to rise into the mid-to-high teens in 2025, further stressing JetBlue’s operational and financial outlook.

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HK Express Faces Continued A320neo Groundings in 2025

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HK Express (Hong Kong) anticipates that ongoing issues with its Pratt & Whitney (P&W)-powered A320neo fleetwill continue to impact operations through 2025. The airline reported that in 2024, an average of 5.6 A320neos were grounded at any given time due to issues with the P&W GTF engines.