Spirit Airlines has agreed to purchase all 14 Airbus A319s that it leases from AerCap by June, bringing the majority of its A319 fleet on property.
The Miramar, Florida-based carrier will purchase the aircraft with cash from April through June for an aggregate price of $258 million, a securities filing today shows.
The deal covers all of the A319s that Spirit leases from AerCap, Flight Fleets Analyzer shows. The aircraft were built from 2005 to 2007.
Spirit leases another nine of its 31 A319s from Air Lease, Avolon, Castlelake, DAE Capital and GECAS, the database shows. It owns eight aircraft.
The airline began buying A319s off lease in 2016 as part of an effort to increase fleet flexibility. All of the deals occurred as the leases were nearing their end.
Spirit leased its entire fleet until it closed a commercial bank facility for 15 aircraft in 2014. Today, it owns 59 Airbus A320 family aircraft and leases 58, Fleets Analyzer shows.
Source: Cirium Dashboard
