The total value of the deal has been disclosed as $519 million, with aircraft deliveries scheduled to be completed by February 2025. The aircraft involved in the sale consist of A320-200 and A321-200 models produced between 2014 and 2019. GA Telesis, a prominent player in aircraft and component management, expressed satisfaction with the agreement. Marc Cho, President of GA Telesis LIFT Group, remarked, “These aircraft will create significant value for our customers.”
Fleet Reduction by 11%
Before the sale, Spirit Airlines operated a fleet of 217 aircraft. The transaction will result in an approximately 11% reduction in capacity. This move is part of Spirit’s strategy to consolidate debt and lower operational costs. The airline had previously implemented measures such as layoffs for pilots and extended payment timelines with creditors.
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