US low-cost carrier Spirit Airlines has reached an agreement with European aircraft maker Airbus to defer all aircraft orders scheduled to be delivered in the second quarter of 2025 through the end of 2026 by five years, the airline said Monday.
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 $340 million over the next two years, the airline said.
There are no changes to the aircraft on order with Airbus that are scheduled to be delivered between 2027 and 2029.
As a result of grounded aircraft due to Pratt & Whitney GTF engine availability issues, along with the 2025 and 2026 aircraft deferrals, Spirit announced it intends to furlough approximately 260 pilots from September 1.
The airline said it has been taking, and will continue to take, prudent steps to ensure the strength of its balance sheet and ongoing operations, including assessing options to refinance upcoming debt maturities and bonds.
