Airlines

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.

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.

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.

Airlines

Air India Express Aircraft Engine Part Falls Outside Delhi Airport; DGCA Orders Probe

Air India Express flight skids off runway while landing at Kochi airport

The Directorate General of Civil Aviation (DGCA) has launched an inquiry following reports that metal fragments were discovered at Delhi’s Indira Gandhi International Airport after an Air India Express flight made an emergency landing on Monday evening.

The emergency landing was prompted by a detected engine fault, but fortunately, the landing was executed safely without any injuries to the passengers.

The situation began when crew members of the Air India Express flight reported an engine issue, leading to the emergency landing. The DGCA has confirmed that a thorough investigation is underway and has directed that the aircraft undergo a comprehensive safety inspection.

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The discovery of metal debris outside the airport has raised concerns, prompting the DGCA to probe whether these fragments are linked to the aircraft involved in the emergency landing. Authorities are particularly focused on whether the metal pieces, which were found near the airport, originated from the same Air India Express flight that experienced engine trouble.

While preliminary assessments suggest that the debris could be a broken blade from an aircraft engine, the exact source remains unconfirmed. The airline has yet to verify if the metal fragments are from their aircraft.

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The Delhi Police, working in conjunction with the DGCA, have initiated their own investigation to determine the origin of the metal pieces. A technical team is set to analyze whether the fragments are associated with the aircraft in question. As the investigation continues, a case has been filed with the airport authority to address the matter.