Spirit just sold 29 aircraft.
 

Spirit just sold 29 Airbuses...

Spirit Airlines (NYSE:SAVE) disclosed an agreement to sell 29 unencumbered Airbus aircraft to a Florida-based aircraft leasing firm on Thursday. The Miami-based airline said that 29 A319ceo aircraft powered with V2500 engines will be sold to an affiliate of Gryphon Aviation Leasing for a price between approximately $152M and $201M. SEC filings indicate that deliveries will begin taking place by the close of Q1 and will conclude by Q3 2024. The first 14 aircraft will be delivered during the 2023 calendar year, with the remainder due for delivery in 2024.

Must be a different Spirit Airlines, we’re based in Miramar…. :D

Good! I won’t have to reset VHF 3 circuit breaker anymore.

Next step the A319NEO orders will be converted to A320/321NEO, more likely A321NEO aircraft.

So we net 19 new ac this year now. Should help their attrition issue and maybe raise utilization.

Does that account for the 320 line being delayed several months.

Nope, so now less than 19. Even better news!

Unless it’s just to raise liquidity and they lease them right back. Sale leasebacks are fairly common.

https://i.ibb.co/DKmHt0F/E6558-AF5-0...C2-D798826.jpg

That would be my first guess.

go read the SEC filing


“
The Company expects to remove 14 and 15 A319ceo aircraft from its operating fleet in 2023 and 2024, respectively. The remaining two A319ceo aircraft in the Company’s operating fleet, which are leased, are anticipated to be returned to the lessor upon lease expiration in 2025.”

That would seem definitive.

And so it begins

What begins? You knew that those aircraft were the oldest in the fleet. And that if JB still wants 319s (which they have said they don’t) they would accept the 319NEOs NK has on order, rather than changing them to other 32xNEO variants, which they have announced their intention to do. Why not get rid of your least efficient and most maintenance intensive aircraft if you are having such attrition problems you are unable to fully staff the fleet you have. Especially since JB has no desire to have them in the inventory when they take over.

Shoot, when I was hired on 2013 those aircraft were already sold to United. And yet here they are.

More importantly, does this raise the 321 override? (In 2024, of course...)

So you're saying we're getting another "small bite"? 💥

Attrition problem solved. Utilization problem solved.

Yes it should increase the 321 override. Also going to slow movement to a crawl for mid pack FOs and Captains. Hiring will just be for bottom churn

Movement was always going to slow down, just a question of when. 15%+ growth per year is only possible for a small company. And without significant retirements that means very little progression. I never expected the growth to continue this long, and I am a little old to start over, but have been telling everyone younger than 45 with less 5 years they should really look around.....

Welcome to the A220-300 and the 21st century! Even with the new engines, you will never want to fly a dinosaur A320/21 again!!!! ;)

I don’t care to fly your wannabe “Airbus” 220.

I don’t get shiny jet syndrome…

I swear spirit could buy used DC-9's and you would get a boner and tell everyone how amazing it is.

I actually wood.

Ba Dum Tss

I'm sure you're at least a bit joking, but I've flown both and miss the A321. Unless you like to know all the maintenance techs in the system on a first name basis...

He's not. We're pretty sure he has a 220 tat on the small of his back.

Tramp-stamp, pilot-dork style.

I wonder if there was any consultation with JB about this before they did it? Or any requirement to do so?

I think it was pretty clear that JB had little interest in 319s, what with their large 220 order, and certainly no interest in elderly ceos since part of the reason to purchase NK was a more rapid update of their own fleet with younger aircraft. I would be greatly surprised if the NK319NEO order isn’t converted to 320 variants - most believed that was going to happen even if NK hadn’t been bought. Or even if they had been bought by F9 which has no particular interest in 319s either. But given that JB is eliminating E190s from their fleet in favor of 220s, I’m sure JB is just as happy to see the 319ceos go away.