Spirit Airlines Inc.
11/04/2024 | Press release | Distributed by Public on 11/04/2024 15:14
Regulation FD Disclosure Form 8 K
Item 1.01. Entry into a Material Definitive Agreement.
Aircraft Sale
As previously disclosed, on October 24, 2024, Spirit Airlines, Inc. (the "Company") entered into a binding term sheet with GA Telesis, LLC ("GAT") for the sale of 23 A320ceo/A321ceo aircraft (the "Aircraft"), subject to execution of definitive documentation. On October 29, 2024, the Company entered into an aircraft sale and purchase agreement with GAT (the "GAT Purchase Agreement") for the sale of the Aircraft to GAT for an expected total purchase price of approximately $519 million (the "Sale"). The Aircraft are planned for delivery through February 2025. The purchase and sale of the Aircraft by GAT and Spirit, respectively, are subject to certain conditions precedent.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the GAT Purchase Agreement, a copy of which will be filed with the Company's Annual Report on Form 10-K.