Spirit Airlines (SAVE) announced that it reached an agreement with Airbus (EADSY) to defer all aircraft on order that are scheduled to be delivered in the second quarter of 2025 through the end of 2026 to 2030-2031. These deferrals do not include the direct-lease aircraft scheduled for delivery in that period, one each in the second and third quarter 2025, respectively. The agreement with Airbus will improve Spirit’s liquidity position by approximately $340M over the next two years. There are no changes to the aircraft on order with Airbus that are scheduled to be delivered in 2027-2029. The Airbus amendment also defers by two years the exercise dates for optional aircraft included in Spirit’s purchase agreement. There is no change to the total number of aircraft on order or Spirit options for additional aircraft.
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