A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport on February 12, 2024 in Austin, Texas.
Brandon Bell | Getty Images
Spirit Airlines said Monday that it will defer deliveries of new Airbus planes and furlough about 260 pilots as it tries to boost liquidity.
“This amendment to our agreement with Airbus is an important part of Spirit’s comprehensive plan to bolster profitability and strengthen our balance sheet,” CEO Ted Christie said in a release on Monday.
Spirit said it will defer all Airbus planes it has on order that are scheduled for the second quarter of 2025 through the end of 2026 until as long as 2031. The budget airline said it would boost its liquidity by about $340 million over the next two years.
Miramar, Fla.-based Spirit has been looking for ways to boost liquidity as it struggles with the the grounding of many of its Airbus planes because of a Pratt & Whitney engine recall.
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