Industry

Published on October 9th, 2021 | by Alan Dwyer

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AerCap Signs Lease Agreements with Spirit Airlines

Aer Cap has announced that it has signed agreements with Spirit Airlines for the lease of 20 new Airbus A320neo Family aircraft. All twenty aircraft are scheduled to begin delivery in 2022 with deliveries continuing through 2023 and 2024. In recently released figures for the third quarter, Aer Cap signed lease agreements for 42 aircraft, purchased seven aircraft and completed the sale of eleven aircraft from its owned portfolio, in transactions for approximately $1.1 billion. Spirit Airlines is an American low-cost airline based in Florida operating to over 80 destinations across the United States, Caribbean and Latin America operating a fleet of nearly 170 Airbus A320 family aircraft.

Commenting on the new deal with Spirit Airlines, CEO of AerCap, Aengus Kelly said, “This is a significant transaction for AerCap with one of the most successful low-cost carriers in aviation. We are delighted to add 20 aircraft to our already substantial business with Spirit. The Airbus A320neo Family will help Spirit grow their fleet in an economical way while advancing its commitment to maintain a highly competitive, fuel-efficient fleet of aircraft equipped with engines that have lower carbon emissions than previous-generation engines. We wish to thank Ted Christie, Scott Haralson and Simon Gore for the confidence they have placed in the AerCap team and we very much look forward to working with them as these aircraft deliver.”

Also commenting was the VP and Treasurer of Spirit Airlines, Simon Gore who added, “We are excited to further our long-standing, strategic partnership with AerCap. These 20 new aircraft help us achieve our previously announced capacity plans for 2022 and 2023, and our targeted growth in 2024, as we continue our mission of delivering More Go and providing the best value in the sky.”

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