Struggling Spirit is looking to bolster its liquidity next year as it embarks on an aggressive fleet shake-up. The ultra-low-cost carrier — which lost nearly $200 million in the second quarter — continues to face challenges as reports surface of a potential bankruptcy filing.
The airline’s fleet is set to change materially in 2025. By February, Spirit will remove 23 of its older Airbus A320 and A321 jets in a deal valued at $519 million.
In addition, the carrier is retiring its two remaining A319s in Q2 2025, though the current schedule only has the aircraft operating through early January.
Spirit expects year-over-year capacity to be down in the midteens range next year, it said in a Thursday 8-K filing.
Pratt and Whitney Issues Worsen
The airline continues to grapple with Pratt and Whitney engine issues on its newer A320neo-series aircraft. Currently, Spirit has 21 A320neos in storage along with one A321neo, according to data from Cirium Fleet Analyzer.
In the same 8-K filing, Spirit stated that it expects a year-over-year increase of A320neo-series aircraft removed from service due to the engine troubles. The carrier did not provide a specific figure.
Spirit published its latest fleet plan on Aug. 1, which does not include the 23 A320 and A321 removals. By year-end 2025, the airline’s fleet will include 219 aircraft in total. It plans to take delivery of six A321neo aircraft next year.
Excluding five retired A319s, Spirit’s current fleet consists of 212 aircraft. With the 23 A320s and A321s removed from its 2025 fleet plan, the carrier will have nearly 11% fewer aircraft by the end of 2025.
