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Spirit Airlines Restructuring: Fleet Cuts & Airport Exits
Spirit Airlines restructuring aims to stabilize the carrier’s finances by shrinking leased capacity and pulling out of two U.S. airports.
Spirit Airlines (IATA: NK, ICAO: NKS), in the midst of its second bankruptcy in two years, moved to reject 27 aircraft leases and reached a $150 million payment agreement with AerCap Ireland Limited. The carrier also says it has resolved all claims with its largest lessor and has committed to accept 30 future aircraft deliveries as part of the restructuring plan.
The restructuring package — which Spirit frames as a fleet reset to lower costs and improve cash flow — is subject to bankruptcy court approval at a hearing on October 10, 2025. Management says these steps will reshape the airline’s leased fleet and let it focus capacity where demand is strongest.
What Spirit Airlines restructuring means for the fleet
Rejecting 27 leases is a significant move: it removes leased aircraft and associated rent from Spirit’s balance sheet, while the $150 million from AerCap Ireland Limited provides immediate liquidity. The committed delivery of 30 aircraft signals the airline still expects to keep planned expansion or replacement capacity, though the types and timelines for those deliveries were not disclosed.
- Key restructuring actions: rejected 27 leases, secured $150M from AerCap, resolved largest-lessor claims, and committed to 30 future deliveries as part of the Spirit Airlines restructuring.
- Operational impact: Spirit will withdraw service at Hartford and Minneapolis–St. Paul airports, trimming route networks at those locations.
- Next steps: the bankruptcy court hearing on October 10, 2025 will review (and may approve) these transactions.
Spirit’s decision to exit Hartford and Minneapolis–St. Paul cuts the airline’s footprint in those markets and will affect schedules, employees and local connectivity. The carrier says it will coordinate with airport authorities and regulators during the wind-down. Passengers and travel partners should monitor official Spirit communications (IATA: NK) for schedule and booking updates.
For now, the restructuring outlines a mix of immediate cash relief and longer-term fleet planning intended to steady Spirit through its bankruptcy process. The October 10, 2025 court hearing will be the next milestone — if approved, the plan will move the airline closer to a leaner, more focused fleet strategy.
