Spirit Airlines pilots have overwhelmingly approved a restructuring agreement that delivers temporary pay concessions and bankruptcy protections. The Air Line Pilots Association said the deal preserves pilots' core work rules while giving Spirit short-term cost relief tied to its restructuring plan.
Spirit Airlines is exploring a path forward, including a merger or sale, as it seeks to conserve cash and stabilize its business following two Chapter 11 bankruptcy filings in less than a year. The airline is in talks with alternative investment firm Castlelake over a potential takeover, according to CNBC.
Spirit Airlines has sold two of its Airbus A320neos to EirTrade, which will dismantle the aircraft and transfer their parts to its Dallas hub. According to EirTrade, the four-year-old N950NK and three-year-old N959NK were withdrawn from service due to age.