Spirit Airlines (US) has entered into a pivotal agreement with International Aero Engines (IAE) that will see IAE provide monthly credits through the end of 2025 to mitigate the financial impact of the GTF engine issues that have plagued Spirit’s operations. This move is expected to partially offset an estimated liquidity impact of $150-195 million, giving the airline critical breathing room to manage…
Spirit Airlines (US) has reported a net profit of $83.1 million for the first quarter of 2025, with total revenue reaching $1 billion. The airline ended the period with $758.1 million in cash and cash equivalents, reflecting a stable liquidity position.
Spirit Airlines, a major U.S. ultra-low-cost carrier, has taken delivery of a new Airbus A321neo, bearing manufacturer serial number (MSN) 12425. The aircraft is powered by Pratt & Whitney PW1133G-JM engines, representing the latest in high-bypass geared turbofan technology, and is part of the airline’s long-term fleet modernization program.
Spirit Airlines, the U.S.-based ultra-low-cost carrier, has announced that CEO Ted Christie is stepping down from his role. While a formal search is underway for his successor, the company has established an interim office of the CEO to manage day-to-day operations and executive oversight.
Spirit Airlines, the ultra-low-cost carrier based in the United States, has outlined its fleet development plan for 2025, projecting an increase from 192 aircraft at the end of 2024 to 196 by the close of 2025. The net growth follows a strategic adjustment involving the retirement of two Airbus A319s in the first quarter of 2025, and the expected delivery of six…
Spirit Airlines, a major U.S.-based ultra-low-cost carrier, has successfully completed a private offering of its Class B® Pass Through Certificates, Series 2025-1B®, with an aggregate face amount of US$215 million. The offering represents another strategic move to bolster the airline’s financial flexibility as it navigates current industry challenges and positions itself for long-term sustainability.
Spirit Aviation Holdings (US), the parent company of Spirit Airlines, has announced that Spirit Airlines has successfully completed its financial restructuring, marking a significant step in stabilizing its financial position and reducing debt obligations. The airline converted approximately $795 million of funded debt into equity, significantly lowering its leverage and improving its financial flexibility.
Spirit Airlines (US) has reported a net loss of $138.3 million for January 2025, reflecting ongoing financial challenges and operational pressures. Despite the loss, the airline generated $347.4 million in gross income during the month and began with a cash balance of $1.14 billion, providing financial flexibility to navigate market conditions.
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…
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.
