Spirit Airlines Seeks Approval for A321-200NX Sale-Leaseback Deal
Spirit Airlines, currently undergoing Chapter 11 restructuring, has filed a motion with the US Bankruptcy Court to approve the sale and leaseback of four A321-200NX aircraft to JSA International U.S. Holdings, a subsidiary of Jackson Square Aviation. This pre-agreed transaction, first arranged in October 2023, is awaiting court approval for final execution.
The four aircraft, all scheduled for delivery directly from Airbus, will join Spirit Airlines’ fleet in the coming months. The first aircraft, registered as N739NK (msn 12324), is expected to be delivered on December 19, 2024, with the remaining three following in February, March, and April 2025. The transaction’s financial terms have not been disclosed.
Judge Sean H Lane has granted Spirit Airlines an expedited hearing, scheduled for December 17, to address the motion. This urgency reflects the imminent delivery of the first aircraft and the need to align the transaction with the airline’s ongoing bankruptcy proceedings.
Spirit Airlines’ current fleet includes 27 leased A321-200NX aircraft sourced from AerCap (16), Air Lease Corporation (7), and Aviation Capital Group (4). The carrier also operates two A319-100s, 64 A320-200s, 91 A320-200Ns—eight of which are leased from Jackson Square Aviation—and 30 A321-200s. These aircraft collectively support Spirit’s expansive network as one of the leading ultra-low-cost carriers in the United States.
The proposed sale-leaseback deal with Jackson Square Aviation underscores Spirit Airlines’ strategy to maintain fleet growth while managing financial obligations during its Chapter 11 process. If approved, this transaction will provide the airline with capital flexibility, enabling continued operational sustainability amid its restructuring efforts.
This move reflects Spirit’s focus on optimizing its fleet while navigating the complexities of bankruptcy proceedings. The airline remains committed to fulfilling its growth and operational goals despite the challenges posed by its financial restructuring.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com