Spirit Airlines seeks court approval to auction 20 Airbus jets for about $500 million

NEW YORK, Feb 11 (Reuters) - Spirit Aviation Holdings FLYYQ.PK is asking a U.S. bankruptcy judge in New York to approve the bidding process for an auction and a potential sale of 20 Airbus A320/A321 AIR.PA aircraft, according to a Wednesday court filing.

In August 2025, Spirit filed for bankruptcy for a second time in a year and said the sale is essential to shrink its fleet size and match its redesigned commercial and network plan. The ultra-low-cost carrier said selling the planes would cut maintenance, storage and flying costs, and that sale proceeds will be used to pay off debt tied to the aircraft.

The first bidder is CSDS Asset Management, an aviation asset manager that has agreed to buy the 20 aircraft for about $533.5 million. If the court approves, Spirit will solicit competing offers starting at around $554 million, according to an agreement with CSDS. It will hold the auction and sale in April.