Spirit Airlines has won court approval to sell its last major aircraft portfolio, a package of 27 Airbus A320-family jets, in a bankruptcy transaction worth about $668.1 million. U.S. Bankruptcy Judge Sean H. Lane approved the deal in the Southern District of New York, splitting the aircraft between Save 2026-B LLC and FTAI Aircraft Leasing Bermuda (2026) Ltd.
Save 2026-B LLC, an entity tied to Spirit’s equipment noteholders, is taking 23 aircraft — 10 A320ceos and 13 A321ceos — for about $567.4 million in debt credits. FTAI Aircraft Leasing Bermuda (2026) Ltd. is buying four A321ceos for roughly $100.7 million in cash.
The aircraft were built between 2015 and 2018 and were among the most valuable assets left in Spirit’s Chapter 11 process. The sale covers airframes, engines, equipment and records on an as-is basis. Spirit stopped flying in May, and the transaction appears to close out the carrier’s large-scale disposal of owned Airbus jets as it winds down under bankruptcy protection.