What Happened
Defunct Airline Liquidates Remaining Assets Amid Bankruptcy Proceedings
A US bankruptcy court judge has approved Spirit Airlines’ plan to sell 27 Airbus A320-family aircraft for approximately $668 million. The sale, which covers Spirit’s last major aircraft portfolio, will see 23 aircraft go to an entity controlled by some of Spirit’s bondholders, with the remaining four going to an affiliate of FTAI Aviation. This move is part of Spirit’s ongoing liquidation of its assets, including airplanes, equipment, airport gates, and real estate, following its cessation of operations in May. The sale was reported by an unknown source.