Spirit Airlines finalizes lease deals for 15 new Airbus aircraft

Andrew Mauro

United States-based ultra-low-cost carrier Spirit Airlines (S64) (SAVE) inked a deal with aircraft leasing company Air Lease Corporation (ALC) on September 8, 2021, to lease and finance  15 new Airbus aircraft.

The deal includes long-term lease placements for ten A321-200neos and sale and leasebacks for five new A320-200neos.

The five A320-200neos are due to be delivered to Spirit Airlines (S64) (SAVE) between 2021 and 2022. The aircraft will be owned and managed by cooperation between ALC and United States-based credit company – Waterfall Asset Management.

The remaining 10 A321-200neo aircraft will be delivered to Spirit between 2023 and 2024 from ALC’s order book with Airbus, ALC said in a statement. 

“ALC is pleased to announce this transaction for 15 Airbus A320 & A321neos with Spirit Airlines (S64) (SAVE),” said Steven F. Udvar-Házy, the executive chairman of ALC. “Combining sale and leasebacks for near-term deliveries of Spirit’s A320neos on behalf of our managed business with direct placement of ten of our A321neos from our orderbook with Airbus will further enhance Spirit Airlines (S64) (SAVE)’ overall operations and commitment to maintain a highly competitive, fuel-efficient fleet.”

Spirit Airlines (S64) (SAVE) operates a fleet of 161 aircraft including 27 Airbus A319s, 104 A320s, and 30 A321s.

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