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Spirit Aviation Holdings has asked a U.S. bankruptcy judge in New York to approve bidding procedures for the auction and potential sale of 20 Airbus A320 and A321 aircraft, according to a court filing submitted Wednesday. The move comes after Spirit Airlines filed for Chapter 11 bankruptcy protection for the second time in a year in August 2025, underscoring ongoing financial pressure on the ultra-low-cost carrier.
The proposed aircraft sale is a key part of Spirit’s restructuring strategy. The airline said reducing its fleet size will help align operations with its redesigned commercial strategy and updated route network. By selling the 20 Airbus jets, Spirit aims to lower maintenance expenses, storage costs, and overall operating expenditures, while improving financial flexibility during the bankruptcy process.
CSDS Asset Management, an aviation asset manager, has emerged as the initial bidder. The firm has agreed to purchase the 20 narrow-body aircraft for approximately $533.5 million. Under the terms outlined in the filing, Spirit will seek higher competing bids starting at roughly $554 million if the court approves the proposed bidding procedures. The auction and potential sale hearing are scheduled to take place in April.
Spirit stated that proceeds from the aircraft sale will be used primarily to repay debt associated with the planes. The airline believes the transaction will strengthen its balance sheet and support its long-term recovery plan.
The development marks a significant step in Spirit Airlines’ bankruptcy restructuring efforts, as the company works to streamline operations, reduce costs, and reposition itself in the highly competitive U.S. aviation market. Industry observers will be closely watching the April auction to see whether additional bidders emerge and how the sale impacts Spirit’s financial turnaround strategy.
