Air TransportSpirit Airlines plans to cut fleet by nearly 100 aircraft
Spirit Airlines has confirmed plans to reduce its fleet by almost half, seeking to reject 87 aircraft lease contracts after filing for bankruptcy protection under Chapter 11 for the second time in 2025.
The move comes as the ultra-low-cost carrier faces continued financial losses due to low fares and weak demand in a highly competitive US market. As part of the restructuring, Spirit intends to eliminate unprofitable routes and downsize its operations.
CFO Fred Cromer stated that the restructuring aims to generate significant cost savings, with the company targeting hundreds of millions of dollars in reduced expenses. Spirit is currently awaiting court approval for its request to terminate the leases, a decision expected to affect nearly 100 of its 214 aircraft.
The airline has until October 27 to finalize its aircraft requirements and continues to negotiate with lessors. Spirit has also obtained court approval to exit 12 airport leases and 19 cargo handling agreements, and has reached a $150 million settlement with AerCap for the rejection of leases on 27 aircraft.
In addition to the fleet reduction, Spirit is withdrawing from over a dozen US airports and suspending approximately 40 routes. The company has begun to decrease or suspend services in markets with lower demand and fares.
Spirit’s current fleet consists mainly of Airbus A320 family models, including A319, A320, and A321 aircraft. The planned reduction will significantly impact the carrier’s capacity, with November schedules expected to be 25% lower compared to the previous year.
After briefly emerging from bankruptcy in March, Spirit’s recovery was hampered by persistent weak demand in the domestic market, leading to a renewed bankruptcy filing in August. The carrier is now seeking up to $475 million in financing to support its restructuring process.
The company aims to survive as a smaller airline, focusing on routes with consistent profitability through what it describes as fleet optimization. The restructuring reflects broader challenges facing US low-cost carriers in adjusting to post-pandemic market dynamics.
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