As a result of grounded aircraft due to Pratt & Whitney GTF engine availability issues, along with the 2025 and 2026 aircraft deferrals, Spirit announced it intends to furlough approximately 260 Pilots effective September 1, 2024. As recently announced, Spirit entered into a compensation agreement with Pratt & Whitney regarding its GTF engines, which is estimated to improve Spirit's liquidity between $150 million and $200 million over the term of that agreement. In addition, Spirit will continue to evaluate the use of its current financeable asset base to add additional liquidity over the coming months.
Spirit Airlines Intends To Furlough Approximately 260 Pilots Effective September 1, 2024
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Mon. 8 Apr 2024, 6:33am ET
Benzinga
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