Spirit Airlines will downsize its fleet by almost 100 aircraft, or around half of its fleet, as part of an extensive bankruptcy restructuring effort, Chief Financial Officer Fred Cromer said Friday in a virtual meeting with creditors. Cromer described the process as essential to positioning Spirit for long-term viability, adding that the restructuring is designed to support “a much smaller and stronger Spirit Airlines.”
The airline, which filed for Chapter 11 bankruptcy protection for the second time this year, said it will continue negotiating with lessors until October 27 to determine its final fleet size. The plan follows recent approvals to reject 12 airport leases, 19 ground handling agreements, and 27 aircraft leases from lessor AerCap. As part of a settlement, AerCap will pay Spirit $150 million to resolve a dispute over a separate deal covering 36 Airbus jets originally scheduled for delivery between 2027 and 2028, Reuters reported.
Cromer attributed the carrier’s financial distress to overcapacity among low-cost competitors, weak passenger demand, and intensified price competition from legacy airlines.
“While the industry was hopeful at the beginning of 2025 that there would be a rebound, it didn’t happen,” Cromer said.
In recent weeks, Spirit has announced plans to exit more than a dozen airports across the U.S. and suspend roughly 40 routes as part of its restructuring plan. The airline expects the fleet reduction to save “hundreds of millions of dollars” as it works to rebuild stability within a challenging market environment.
Here’s hoping they continue to ‘streamline’ down to 0 jets and close the damn doors. what a sh&!hole airline, the absolute worst.