Spirit Airlines to cut fleet by 100 planes

Spirit Airlines plans to shrink its fleet by nearly 100 aircraft, nearly half of its fleet, as part of a sweeping bankruptcy restructuring process, CFO Fred Cromer said on Friday during a virtual meeting with creditors.

- CORRESPONDENT

The ultra-low-cost-carrier filed for Chapter 11 bankruptcy protection for the second time this year after a prolonged period of financial strain. The carrier, which currently operates 214 aircraft, is using bankruptcy tools to eliminate unprofitable routes and reduce its operations.

The company said in a statement that it filed a motion with the court on Thursday to reject 87 additional aircraft leases.

“The motion is subject to court approval, and we continue to engage with key stakeholders, including our lessors, as part of our ongoing restructuring to position Spirit for the future,” it said.