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Spirit Airlines looks for more A320s to fuel growth

Nov. 05, 2019
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3 min read
Spirit Airlines A320 BWI
Spirit Airlines looks for more A320s to fuel growth
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Spirit Airlines is looking for more Airbus A320 jets to fuel its planned double-digit growth next year.

The South Florida-based ultra-low-cost-carrier wants to lease up to seven more A320s in 2020, a leasing-industry source familiar with the search confirmed to TPG. If Spirit sources all of the aircraft, it would add 28 new jets to its fleet next year.

The airline is scheduled to take delivery of 21 A320neos in 2020, its fleet plan as of Oct. 24 shows.

Spirit spokesman Erik Hofmeyer confirmed that the airline plans to "supplement" aircraft deliveries from its orderbook with additional leased aircraft next year.

Related: Spirit Airlines plans for ‘several new cities’ next year

A Spirit Airlines Airbus A320 at Baltimore/Washington International Airport. (Photo by Edward Russell/TPG)

The carrier plans to grow capacity by 17-19% year-over-year in 2020, adding "several new cities" to its network, said Spirit chief financial officer Scott Haralson last month. That growth will be fueled by adding aircraft to its fleet.

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Spirit operated 136 aircraft, including 62 A320s and 13 A320neos, at the end of September. It plans to fly 145 aircraft by year end.

The airline announced a long-awaited order for up to 150 A320neo family jets in October. The deal, which has yet to be finalized, includes a firm order for 100 A319neo, A320neo and A321neo models, and purchase options for another 50 aircraft. Deliveries of the aircraft are due to begin in 2022 and continue through 2027.

Related: Spirit Airlines commits to buying up to 150 Airbus A320neo family jets

Spirit is one of the fastest-growing ultra-low-cost-carriers in the U.S. It is on track to double in size from 2015 to 2019, growing at a compound annual rate of more than 14%, according to Diio by Cirium schedules. The airline added numerous cities ranging from Austin (AUS) to Newark (EWR) and Sacramento (SMF) to its map over the period, as well as opened new bases including one in Orlando (MCO).

While the carrier has fueled much of this growth through aircraft deliveries from its orderbook, it also has regularly supplemented this with additional leased jets. In the third quarter alone, aircraft advisory shop SkyWorks helped Spirit source and arrange leases for two A320s and 11 A320neos, the firm said in a statement.

Spirit is also investing in an improved customer experience. It plans to roll out its first jet with new seats and a new cabin in December, plans to add inflight wi-fi, and is working on a new loyalty program.

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  • Solid welcome bonus

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  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
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  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
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