Spirit Airlines to delay Airbus aircraft deliveries to save cash

By Thomson Reuters Apr 8, 2024 | 5:48 AM

(Reuters) – Spirit Airlines said on Monday it has reached an agreement with Airbus to defer all aircraft orders scheduled to be delivered in the second quarter of 2025 through the end of 2026 to 2030-2031, as the company looks to save cash.

The U.S. carrier also said it intends to furlough about 260 pilots effective Sept. 1 due to quality issues with engines made by supplier Pratt & Whitney.

Spirit said the agreement with Airbus would improve its liquidity position by about $340 million over the next two years, adding that there were no changes to its aircraft orders with Airbus that are scheduled to be delivered during 2027-2029.

(Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh Kuber and Mrigank Dhaniwala)