260 pilots were laid off by Spirit Airlines to save money

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Spirit Airlines said on Monday it has reached a deal with Airbus to delay all aircraft deliveries scheduled from the second quarter of 2025 through 2026 and intends to furlough about 260 pilots, as the company looks to save cash.
As a result of the deferrals, along with quality issues with engines made by supplier Pratt & Whitney, Spirit is furloughing pilots effective Sept. 1.
“[The] aircraft deferrals and pilot furloughs look positive, in terms of helping the carrier to reduce [or] defer some costs.
Spirit, which has been losing money for several quarters despite strong travel demand, operates an all-Airbus fleet.
As of December 2023, the company had a total of 205 Airbus jets.
Spirit now expects to end 2025 with a total of 219 jets in its fleet, with no additions of the A320neo aircraft.
It had previously expected to add six A320neo jets in 2025 and increase its fleet to 234 jets.
The furloughs “are deeply troubling for our entire pilot group,” said Ryan Muller, chair of Spirit’s Master Executive Council at the Air Line Pilots Association.

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Spirit Airlines announced on Monday that, in an effort to save money, it has reached an agreement with Airbus to postpone all aircraft deliveries from the second quarter of 2025 through 2026. Additionally, the airline plans to furlough roughly 260 pilots.

The budget carrier announced that it would push back the planned delivery dates to 2030–2031. Spirit is furloughing its pilots as of September 29 due to the deferrals and quality problems with engines supplied by Pratt and Whitney. 1.

Spirit (SAVE) stock increased by roughly 5% in early trading.

Spirit has been forced to ground some of its A320neo aircraft due to a problem with Pratt & Whitney Geared Turbofan engines, which has put the company in a difficult financial situation at this point.

Spirit said that the agreement with Airbus will increase its liquidity by roughly $340 million over the following two years and that its orders slated for delivery in 2027 and 2029 would remain unchanged.

“In terms of aiding the carrier in reducing [or delaying] some costs, [the] aircraft deferrals and pilot furloughs appear promising. In a note, Citi Research analyst Stephen Trent stated that “among other factors, the carrier now potentially also reduces its revenue generation opportunities.”.

Despite high demand for travel, Spirit, which has been losing money for several quarters, only has an Airbus fleet. The company operated 205 Airbus aircraft as of December 2023.

Without acquiring any more A320neo aircraft, Spirit now projects having 219 jets in its fleet by the end of 2025. Prior to now, it had projected growing its fleet to 234 aircraft by adding six A320neo aircraft in 2025.

The Air Line Pilots Association’s Ryan Muller, chair of Spirit’s Master Executive Council, stated that the furloughs “are deeply troubling for our entire pilot group.”.

Muller said that the council and a negotiating committee were looking into voluntary steps that could reduce the need for or quantity of mandated furloughs and downgrades.

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