Spirit intends to trim its aircraft fleet to 76‑80

Spirit Aviation Holdings, Inc., parent company of Spirit Airlines, LLC, announced on Friday they have filing a Restructuring Support Agreement and Plan of Reorganization with the U.S. Bankruptcy Court for the Southern District of New York. This important milestone marks another significant step in Spirit's restructuring. The RSA and Plan outline the financial framework that underpins Spirit's expected emergence from Chapter 11 by early summer.

Upon emergence, Spirit will reinforce its position as America's leading value carrier with the following advantages:

• Rightsized Fleet: The airline intends to further rightsize its fleet to 76-80 aircraft by the third quarter of 2026, primarily Airbus A320/321ceo. In addition to previously announced fleet adjustments, the planned adjustment will further reduce Spirit's debt, lease obligations and aircraft costs. The company anticipates adding aircraft between 2027 and 2030. Spirit entered Chapter 11 protection in August with 214 aircraft, ​then moved to cut roughly 100 aircraft in October.
• Optimized Network: Spirit will continue to align its network with consumer demand and focus on its strongest routes and markets, including Fort Lauderdale (FLL), Orlando (MCO), Detroit (DTW) and the New York City area (EWR/LGA). The airline will increase aircraft utilization on peak days, reduce off-peak flying and maintain flexibility to adjust to seasonal demand across markets.
• More Premium Choices: Spirit intends to expand its Spirit First and Premium Economy products by adding a third row of the Big Front Seat and continuing its rollout of Premium Economy seating, while continuing to lead the industry on price and focus on value.
• Stronger Financials: The company will further reduce its cost structure, expanding its cost advantage compared to legacy and other airlines. Spirit's debt and lease obligations are expected to be reduced from $7.4 billion pre-filing to approximately $2 billion post-emergence. The company will continue to pursue efficiencies and reduce costs across the business.

"We are pleased to achieve another milestone that reflects the confidence our lenders and noteholders have in our future, with our plan better positioning Spirit to continue delivering value to American consumers," said Dave Davis, president and chief executive officer. "While we still have work to do with other important stakeholders, today's agreements and filings are very material steps forward toward emergence.”