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BLK ALERTS - What Happens To Spirit Airlines’ Planes Now That It’s Gone?
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BLK ALERTS - What Happens To Spirit Airlines’ Planes Now That It’s Gone?
Following the carrier’s abrupt closure this month, Spirit Airlines planes are out of commission, though they may get a second life. Currently, the airline’s fleet is being divided based on who owns each plane and the carrier’s bankruptcy proceedings. Generally, when an airline collapses, leased aircraft are returned to lenders. Planes can be repossessed – and creditors may seize eligible aircraft and sell them to recoup financial losses. Additio…
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