Spirit Airlines seeks to jettison dozens of A320‑family jets — filing “Doc 571” as part of bankruptcy restructuring

Background: Spirit Airlines in Chapter 11

In 2025, Spirit Airlines entered restructuring under Chapter 11 protection, a step reflecting deep financial difficulties. As part of its efforts to streamline operations and reduce costs, the company initiated a series of motions to reject leases on a large portion of its fleet.

According to a corporate press release dated September 30, 2025, Spirit secured a debtor‑in‑possession (DIP) financing facility of up to US $475 million, with $200 million immediately available, to support business operations during the restructuring. In the same release, Spirit announced an agreement with AerCap — its largest aircraft lessor — that would result in the rejection of 27 aircraft leases, in exchange for a $150 million payment from AerCap.

The “Doc 571” motion: legal basis and scope

On September 5, 2025, Spirit filed before the U.S. Bankruptcy Court for the Southern District of New York the motion formally titled “Authorizing the Debtors to Reject Certain Aircraft and Engine Leases and Granting Related Relief” — docket number 25‑11176‑shl, Doc 571.

In this motion, Spirit (and its debtor‑affiliated entities) requests, under Sections 365(a), 554(a) and 105(a) of the U.S. Bankruptcy Code — and Bankruptcy Rule 6006 — authorization to reject certain leases of aircraft and engines (collectively “Rejected Equipment”). The leases to be rejected are identified in a “Rejection Schedule” (Schedule 1 attached as Exhibit A to the motion), and the rejection would be effective as of the “Rejection Date” specified for each lease.

The Court has jurisdiction under 28 U.S.C. §§ 157 and 1334. Venue is proper for the Chapter 11 cases in this district.

Implementation and subsequent filings

Following the initial filing, the debtors submitted a “Certificate of No Objection” on September 16, 2025, and an “Amended Certificate of No Objection” on September 18, 2025 — indicating that no valid objections to the motion were outstanding, and listing certain leases to be rejected.

Additional court filings in November 2025 show that the rejection motion was part of a broader reorganization plan. A later order (entered October 21, 2025) under the debtors’ “First Omnibus Motion” rejected leases on 58 aircraft. The term “First Omnibus Motion” suggests Doc 571 was among several motions to reduce fleet size and shed lease obligations.

Industry‑wide reporting indicates Spirit intends to reject up to 87 aircraft leases — including A320, A320neo and A321neo-family jets — reflecting a fleet reduction of nearly 41%.

Spirit itself characterized this strategy as vital to removing “unprofitable leases” and eliminating the costs of storing aircraft that are already out of service.

What the public record says — and the limits

The “Doc 571” motion and its certificates are publicly available, making the legal request itself transparent. However — and important for transparency — the publicly accessible filings do not include the full “Rejection Schedule” listing all affected aircraft (by registration number or lessor) and their effective rejection dates. The motion refers to Schedule 1 / Exhibit A, but in the versions available online those annexes appear to be omitted or redacted.

As a result, although it is legally confirmed that Spirit seeks to reject multiple leases, the exact identity of each aircraft (registration, serial number, lessor, rejection date) is not publicly disclosed through accessible filings.

Press‑reports claiming Spirit plans to return “11 additional A320‑family jets (six A320ceo + five A320neo)” appear to be derived from insider summaries or unverified leak — not from a publicly available, verified “Schedule 1.” Thus, these figures remain unconfirmed in the public record.

Strategic rationale and implications

• By shedding lease obligations on dozens of aircraft, Spirit aims to reduce fixed costs, avoid maintenance/storage expenses on idle aircraft, and align its fleet size with reduced demand and a trimmed route network.
• The agreement with AerCap — rejecting 27 leases and cancelling its purchase commitment for new aircraft — gives Spirit much‑needed liquidity (via the $150 M payment + DIP financing), and alleviates the risk of mass repossessions by lessors.
• For lessors such as AerCap, the strategy may enable faster redeployment of the returned aircraft or engines to other, more financially stable airlines — a common dynamic in a restructuring context.

However — from a transparency and investor‑watching perspective — the absence of a public “Rejection Schedule” limits outside scrutiny: neither analysts, journalists nor stakeholders can verify the exact aircraft being removed, their condition, or their lessors.

What remains to be clarified / potential next steps

• A public release (or court‑filed unredacted annex) of the full “Rejection Schedule” — showing all rejected leases with aircraft registry, lessor identities and rejection dates.
• Financial impact analysis, once leases are officially terminated: how much annual lease cost is eliminated; what are the termination claims lessors may file; how many aircraft are effectively withdrawn from service / stored / returned.
• Assessment of risk for lessors: repossessions, remarketing, residual value erosion, condition of returned jets.
• For Spirit: a clear, long‑term fleet plan post‑restructuring (number of aircraft, mix A320ceo / neo / A321, routes, growth forecast).

Conclusion

The publicly accessible “Doc 571” motion filed by Spirit Airlines in September 2025 is a clear legal instrument — under U.S. Bankruptcy law — authorizing rejection of multiple aircraft and engine leases. This forms a core pillar of Spirit’s restructuring strategy under Chapter 11, together with a DIP financing facility and a major agreement with AerCap.

Nevertheless, while the motion confirms the intent and legal basis to shed aircraft leases, the lack of publicly shared details (Rejection Schedule) means that the precise scope of the fleet reduction — aircraft by aircraft — remains opaque. References in media to “11 additional A320‑family jets” or “87 aircraft leases rejected” reflect incomplete information or non‑public summaries, not verified documentation.

AeroMorning                                          December 4, 2025