The United States Bankruptcy Court for the Southern District of New York has granted final approval for Spirit Airlines to complete the sale of 23 Airbus A320 and A321 aircraft to GA Telesis. This decision follows the court's earlier approval on December 7, 2024 for the initial sale of five aircraft, with the latest ruling addressing the remaining 18 aircraft.
The sale, announced on October 24, represents a crucial step in Spirit's restructuring efforts. It forms part of the airline's strategy to optimise its fleet and enhance liquidity. The transaction involves the sale of 15 Airbus A320 and eight Airbus A321 aircraft, with deliveries already underway and the finalisation set to occur in stages.
Marc Cho, President of LIFT, the leasing and trading division of GA Telesis, commented: “We are thrilled that the court delivered a conclusive decision on such an expedited timeline. This approval underscores the collaborative efforts of all parties involved, and we look forward to closing this transaction swiftly and supporting Spirit as it executes its restructuring plan.”
