October 2024 has been a busy month for Florida-based Spirit Airlines. Firstly, rumors began spreading about an imminent Chapter 11 bankruptcy filing, followed by the announcement that the carrier would be retiring its dwindling fleet of Airbus A319s earlier than planned. Then came the news that a possible merger with fellow US carrier Frontier could be back on the tables, two years after the last attempt fell apart. 

Now comes the news directly from the airline that it has entered a commitment to sell 23 of its older Airbus A320 family fleet to raise additional capital to shore up its financial position. The deal will see the low-cost carrier dispose of 23 A320s and A321 narrowbodies in a deal that is reportedly valued at approximately $519 million. Deliveries of the airplanes earmarked for disposal under the terms of the deal are due to begin immediately and will continue through February 2025.

The agreement has been made with GA Telesis, a company that specializes in aircraft sales, leasing, distribution, and maintenance. Spirit says that the sale would give it approximately $225 million in liquidity through the end of 2025. According to ch-aviation, the carrier currently has 64 A320ceo and 30 A321ceo in its fleet, from which the 23 aircraft due to be sold will be selected.

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