Spirit Airlines to auction 13 A320ceo and seven A321ceo aircraft: CFO
Spirit Airlines CFO Fred Cromer confirmed (12-Feb-2026) the LCC intends to auction 13 A320ceo and seven A321ceo aircraft. A sale agreement designates CSDS Asset Management LLC as the stalking horse buyer, an agreement setting the floor price at USD533.5 million. If additional bids are received, Spirit will conduct an auction on 20-Apr-2026, otherwise a sale to CSDS would proceed for court approval. Mr Cromer said the auction "will enable Spirit to rightsize its fleet to match its go-forward business and commercial strategy, significantly reduce costs ... and improve Spirit's financial position at this critical stage of the Chapter 11 Cases". He added: "The aircraft, are, I believe, not necessary for Spirit's continued operation or successful reorganisation". Mr Cromer stated: "Spirit is also continuing to evaluate its fleet needs, noting that it "may determine that it is appropriate for additional aircraft and related equipment to be retired". [more - Aviation Week]
Background ✨
Spirit Airlines received court approval for a USD475 million debtor-in-possession financing facility and a USD150 million payment from AerCap Ireland, its largest aircraft lessor, as part of its Chapter 11 restructuring. The agreement also included the rejection of 27 aircraft leases and resolved all claims and disputes with AerCap, supporting Spirit's efforts to reduce operating costs and rationalise its fleet during the restructuring process1 2.