2024-04-13 10:10:07
Once permission for its sale to Jetblue has been denied, Spirit Airlines has begun taking steps to try to ensure its existence.
Spirit Airlinesone of the first airlines to be named ultra low cost by charge even for hand luggageseems to go through a bad moment.
In 2020 it was announced that Jetblue and Spirit had reached an agreement for the former to acquire the latter for approximately $3.8 billion.. However, a month ago, On March 4, both announced the end of the agreementafter what a US federal judge prohibited the operation due to monopoly issues.
After that, the Jetblue shares up 5 percent y Spirit’s fell nearly 60 percent.
Now, Spirit Airlines has announced that it has reached an agreement with Airbus to delay the delivery of the aircraft it was scheduled to receive from the second quarter of 2025 to the end of 2026 to 2030 and 2031. With this, Spirit will improve its liquidity position by about $340 million in those two years. The agreement also includes extending two years he period Spirit has to convert options into firm orders purchase you have.
Los Aircraft planned for the period 2027 – 2029 maintain their delivery forecasts as noted by Spirit. Total There are 91 A320neo family aircraft that Spirit has pending to receive from the different Airbus factories.
To this decision We must add the fact that as a consequence of the problems with the Pratt & Whitney PW1100G engines, fifteen planes are stopped waiting for new engines. Recently both parties have agreed to a payment of between $150 million and $200 million to Spirit as compensation.
And as a consequence of both situations, Spirit has also announced the dismissal, on September 1, of some 260 pilotsy an undetermined number of captains will become second pilots. Although Nothing has been said for now, it would not be surprising if some 1,000 TCPs also lost their jobs. With these measures, Ted Christie, Chairman and CEO of Spirit has pointed out that They hope to advance their plans to return to profitabilitymaking use of available liquidity, and adjust to the drop in market demand for super cheap flights like the ones they offer.
It is agreement is also beneficial for Airbus given that frees production slots what could offer to preferred customers that seek to receive more aircraft in the short term, how can it be United Airlines.
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