Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Spirit Airlines cancels 62 Airbus jet orders in bankruptcy settlement, cuts fleet and staff.

flag Spirit Airlines has canceled its order for 52 Airbus planes and options for 10 more as part of a bankruptcy court-approved settlement with lessor AerCap. flag The agreement resolves a dispute that led to Spirit’s bankruptcy filing, with Spirit rejecting 27 current leases, forfeiting 36 undelivered jets, and securing new leases for 30 future Airbus aircraft. flag AerCap will keep $9.7 million in deposits, gain a potential $572 million unsecured claim, and inject $150 million into Spirit. flag The airline also secured $475 million in debtor-in-possession financing, with $200 million immediately available, and plans to cut costs by reducing its fleet by nearly 100 aircraft and furloughing about 1,800 flight attendants starting December 1.

4 Articles