Connect with us

Airlines

Spirit Airlines to Cut 260 Pilot Jobs as Part of Financial Restructuring Strategy

Spirit Airlines to Cut 260 Pilot Jobs as Part of Financial Restructuring Strategy

Today, Spirit Airlines, Inc. stated that it has achieved a deal with Airbus to push back all order aircraft from the second quarter of 2025 through the end of 2026 to 2030–2031.

The direct-lease aircraft, one for each of the second and third quarters of 2025, that are slated for delivery during that time are not included in these deferrals. Over the next two years, Spirit’s cash situation will strengthen by about $340 million through the agreement with Airbus.

Advertisement

The aircraft that are currently being ordered from Airbus and slated for delivery in 2027–2029 have not changed. Spirit revealed that it will be furloughing about 260 pilots as of September 1, 2024, as a result of aircraft grounded due to Pratt & Whitney GTF engine availability issues as well as the aircraft deferrals for 2025 and 2026.

Spirit and Pratt & Whitney recently stated that they have reached a compensation deal over Spirit’s GTF engines. Over the course of the agreement, spirit airlines furlough is expected to have improved liquidity by $150 million to $200 million. In the upcoming months, Spirit will also keep an eye on how best to use its present base of financeable assets to add further liquidity.

Advertisement

Additionally, Spirit’s purchase agreement’s optional aircraft had their exercise dates postponed by two years due to the Airbus change. The total number of aircraft ordered remains unchanged, nor do Spirit’s options for more aircraft.The Company has been and will keep implementing sensible measures to guarantee the stability of its balance sheet and continuing business operations. These measures include evaluating potential refinancing options for bonds and upcoming debt maturities.

Advertisement
Advertisement

Airlines

FAA reveals that 300 Boeing planes could result in fuel tank explosions

FAA reveals that 300 Boeing planes could result in fuel tank explosions

The Federal Aviation Administration (FAA) has brought attention to a concerning issue with Boeing aircraft that could lead to fuel tank explosions, adding to the litany of safety concerns surrounding the aerospace giant’s products.

According to a proposed rule from the FAA, Boeing’s 777 liner has been found to have dangerously poor electrical insulation near its fuel tank, posing a significant risk of ignition and subsequent fire or explosion. This revelation comes amid heightened scrutiny of Boeing’s aircraft due to several recent incidents highlighting potential safety flaws.

Advertisement

The impacted aircraft encompass nearly 300 Boeing 777s across the United States, including various models such as the 777-200, -200LR, -300, -300ER, and 777F series. In response to the discovery, the FAA has proposed a $14 million solution to address the issue across all 292 affected US-registered airplanes.

The proposed solution involves the installation of electrical bonding and grounding components in the center fuel tank, as outlined in the proposed Airworthiness Directive (AD) issued by the FAA. This comprehensive repair process includes extensive inspections, lasting approximately 90 hours per aircraft, followed by the installation of Teflon sleeves and cap fasteners in specific areas of the fuel tanks.

Advertisement

Crucially, the financial burden of these repairs would not fall on Boeing but on the operators and airlines that own the affected aircraft. The proposed timeline for completing the repairs extends up to 60 months.

Boeing, in response to the FAA’s proposed rulemaking, expressed its full support for making the guidance mandatory and emphasized that the issue does not present an immediate safety-of-flight concern. The company highlighted the multiple redundancies built into modern commercial airplanes to mitigate risks from electromagnetic effects.

Advertisement
Continue Reading

Airlines

Airbus A340s Join SpiceJet Fleet for Delhi-Bangkok Flights, Replacing Boeing 737s

Airbus A340s Join SpiceJet Fleet for Delhi-Bangkok Flights, Replacing Boeing 737s

In a strategic move aimed at accommodating the surge in demand during the holiday season, SpiceJet has announced a significant upgrade to its Delhi-Bangkok route.

The airline revealed plans to swap out its narrow-body Boeing 737s with wide-body Airbus A340s, marking a substantial increase in seating capacity and comfort for passengers. Commencing on May 31 and extending until June 20, 2024, travelers on the Delhi-Bangkok route can expect a notable enhancement in their flying experience.

Advertisement

The introduction of the Airbus A340s, with a seating capacity of 324 passengers per flight, promises to meet the escalating demand for travel between the two bustling destinations.

SpiceJet’s commitment to providing unparalleled service to its customers, particularly during peak travel periods. By leveraging the larger capacity of the A340s, the airline aims to ensure that passengers have greater flexibility and convenience in planning their journeys.

Advertisement

The decision to upgrade to wide-body aircraft comes at a time when Bangkok continues to allure Indian travelers with its vibrant blend of work and leisure opportunities, further facilitated by visa-free entry for Indians. Recognizing the importance of catering to this growing demand, SpiceJet’s move is poised to strengthen its position in the market and solidify its reputation for customer-centric innovation.

It’s worth noting that SpiceJet’s utilization of the Airbus A340s extends beyond the Delhi-Bangkok route. The airline currently operates two A340s, sourced from Romanian operator Legend Airlines, primarily for Hajj pilgrimage flights.

Advertisement
Continue Reading

Airlines

IndiGo to introduce business class Service on its busiest routes 

IndiGo to introduce business class Service on its busiest routes 

After nearly 18 years of dominating India’s aviation landscape with its single-class economy configuration, IndiGo, the country’s largest airline, is set to make a significant leap by introducing business class service on its busiest routes.

The decision comes as IndiGo aims to offer passengers more choices and enhanced comfort amid the backdrop of a burgeoning economy. Set to be unveiled around August, coinciding with the carrier’s 18th anniversary, IndiGo’s “tailor-made business product” promises to redefine the flying experience for its customers.

Advertisement

This move follows closely on the heels of IndiGo’s recent announcement of acquiring 30 wide-body aircraft, indicating the airline’s strategic expansion and commitment to catering to diverse passenger preferences.

IndiGo’s foray into business class service represents a significant milestone, especially considering its longstanding reputation as a low-cost carrier focused primarily on economy class offerings. With a fleet exceeding 360 planes and operating approximately 2,000 daily flights, the airline’s entry into the business class segment is poised to reshape the Indian aviation industry.

Advertisement

Currently, Air India and Vistara are the sole providers of business-class seats on domestic routes in India. However, by December 2024, IndiGo will join this exclusive league, introducing its bespoke business class experience tailored to meet the evolving needs of discerning travelers.

Initially, IndiGo’s business class operations will be rolled out on the busiest domestic routes, ensuring passengers enjoy added comfort and luxury during their journeys. Further details regarding the official launch date, specific routes, and promotional offers will be disclosed by August 2024, heightening anticipation among passengers eagerly awaiting this premium service.

Advertisement
Continue Reading
Advertisement

Advertisement

Trending