OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
UPS MD-11 Crash Prompts Families to Prepare Wrongful Death Lawsuit 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Spirit Airlines has reached a major settlement with aircraft leasing giant AerCap, rejecting its commitment to purchase 52 Airbus planes and options for 10 more. The deal, approved by the U.S. Bankruptcy Court for the Southern District of New York, transfers those orders to AerCap as part of Spirit’s restructuring efforts under bankruptcy protection.
The dispute between Spirit and AerCap was the catalyst for the airline’s second bankruptcy filing. In August, AerCap abruptly terminated lease agreements for 36 Airbus A320neo family jets scheduled for delivery in 2027–2028 and claimed defaults on 37 aircraft already in operation. Spirit challenged the claims but was forced to seek bankruptcy protection after losing access to a large portion of its fleet.
Under the new agreement, Spirit will reject 27 of its 37 existing aircraft leases. AerCap will retain $9.7 million in security deposits from the canceled leases and has been allowed to file an unsecured claim of up to $572 million against the airline. Spirit will also give up rights to the 36 undelivered aircraft.
As part of the settlement, Spirit will enter new lease agreements with AerCap for 30 Airbus A320 or A321 jets, with deliveries evenly spread across 2027, 2028, and 2029. AerCap will inject $150 million in cash to support Spirit’s reorganization.
Additionally, Spirit received court approval for a debtor-in-possession (DIP) financing facility worth up to $475 million from existing bondholders, with $200 million immediately available. The airline said the deal will help lower its operating costs by hundreds of millions of dollars.
To further streamline operations, Spirit plans to reduce its workforce and fleet size. About 1,800 flight attendants—roughly one-third of its cabin crew—will be furloughed effective December 1. The airline, currently operating 214 aircraft, intends to shrink its fleet by nearly 100 planes to cut expenses and stabilize financially.
This restructuring marks a pivotal moment for Spirit Airlines as it seeks to regain stability and rebuild operations amid mounting financial challenges.
