Spirit Airlines Expects 40 Airbus A320neo Aircraft To Be Grounded

Spirit Airlines has said that they expect an average of 40 Airbus A320neo aircraft to be grounded in December 2024.

This news was revealed in the airline’s recent financial earnings announcement, where the issues with Pratt & Whitney engines continue to affect them.

Without further ado, let’s get into it…

Spirit Airlines Expects 40 Airbus A320neo Aircraft To Be Grounded…

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In their fourth-quarter earnings results, Spirit Airlines had this to say on future groundings of their Airbus A320neo aircraft powered by Pratt & Whitney engines:

“During the third quarter 2023, Pratt & Whitney notified the Company that all the geared turbofan (GTF) neo engines in its fleet, are in the potential pool of engines subject to the inspection and possible replacement, of the powdered metal high-pressure turbine and compressor discs.”

“In January 2024, the Company had an average of 13 grounded neo aircraft and estimates that number will climb steadily to an average of about 40 in December 2024, averaging about 25 grounded neo aircraft for the full year 2024.”

“Spirit currently estimates its capacity for the full year 2024 will be flat to up mid-single digits compared to the full year 2023.”

“The Company and Pratt & Whitney have been in negotiations regarding fair compensation for the financial damages related to the geared turbo fan (GTF) neo engine availability issues.”

“Discussions with Pratt & Whitney have progressed considerably since October, and, while no agreement has been reached to date, the Company believes the amount of compensation it will receive will be a significant source of liquidity over the next couple of years.”

All eyes will be on how badly affected Spirit Airlines will be affected by the grounding of Airbus A320neo aircraft powered by Pratt & Whitney engines.