Spirit Airlines Secures Agreement with IAE to Mitigate Liquidity Impact Amid GTF Engine Issues

Reuters

06-09

<a href="https://laohu8.com/S/SAVE">Spirit Airlines</a> Secures Agreement with IAE to Mitigate Liquidity Impact Amid GTF Engine Issues

Spirit Airlines Inc. has entered into an agreement with International Aero Engines, LLC, an affiliate of Pratt & Whitney, to address issues with the GTF engines powering their A320neo aircraft. Under the agreement, Spirit will receive a monthly credit through the end of 2025, contingent on certain conditions, as compensation for aircraft unavailable due to these engine issues. The financial impact on Spirit's liquidity is estimated to be between $150 million and $195 million, depending on the number of days aircraft remain out of service in 2025. Additionally, Spirit agreed to release IAE and its affiliates from claims related to the affected engines from March 26, 2024, through December 31, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Spirit Airlines Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950103-25-007125), on June 09, 2025, and is solely responsible for the information contained therein.

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Spirit Airlines Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950103-25-007125), on June 09, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250609:nNDL2hh6j1:1","article_id":"2542838523","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2542838523","pubTimestamp":1749463348,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Spirit Airlines Inc. has entered into an agreement with International Aero Engines, LLC, an affiliate of Pratt & Whitney, to address issues with the GTF engines powering their A320neo aircraft. 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