| |

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

ByAdmin

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

ByAdmin

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.

| |

Frontier Airlines Revives Merger Talks With Spirit Airlines

ByAdmin

Frontier Airlines is once again pursuing a merger with Spirit Airlines, reviving a deal that previously fell through. The parent company, Frontier Group Holdings, has put forth a proposal that includes $400 million in newly issued debt and common stock, aiming to consolidate operations with the ultra-low-cost carrier.

| | | |

Spirit Airlines Adds Airbus A321neo to Fleet

ByAdmin

Spirit Airlines, a leading ultra-low-cost carrier in the United States, has expanded its fleet with the addition of a new Airbus A321neo, identified by serial number 12324. This aircraft, acquired on lease, is powered by PW1133G-JM engines, reinforcing the airline’s commitment to efficiency and sustainability.

|

Spirit Airlines Expects Shareholder Wipeout Amid Restructuring

ByAdmin

Spirit Airlines, a prominent ultra-low-cost carrier in the United States, has announced that it still expects shareholders will be wiped out as the airline progresses with its restructuring deal. The plan includes transferring control of the airline to its bondholders, marking a significant shift in its ownership structure.

| | |

Spirit Airlines to Finalize Sale of 23 Aircraft to GA Telesis

ByAdmin

Spirit Airlines, a prominent low-cost carrier in the United States, has received approval from the US Bankruptcy Courtto complete the sale of 23 Airbus aircraft, comprising A320 and A321 models, to GA Telesis (GAT), a leading aviation solutions company. This transaction marks a significant development in Spirit Airlines’ restructuring efforts.