May 16, 2026
With the collapse of Spirit Airlines, there's now the question of what happens to the company's assets — especially its aircraft.
And it's no ordinary repo operation when an airline goes out of business.
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Spirit Airlines shut down operations on May 2, after struggling in recent years and filing for bankruptcy twice, in 2024 and again in 2025. (1)
According to the New York Times, the airline had lost billions in recent years, facing stiff competition, rising labor costs and aircraft maintenance needs. While there were plans in place for the airline to "emerge from the second bankruptcy this summer as a smaller company," the Times reported that, due to the spike in jet fuel prices amid the Iran war, "those plans fell apart." (1)
There was also an attempt to strike a deal with the Trump administration for a $500-million lifeline, but that deal fell through. (2)
The collapse left some travelers stranded, though other airlines stepped in, offering affordable rescue flights. Now, the company's fleet must be dealt with, and it's no small task.
According to a report from NPR, when Spirit ceased operations, more than 90 aircraft were left at dozens of airports around the country. (3) While the company is hoping to liquidate its valuable assets — such as engines, spare parts and real estate — when it comes to aircraft, NPR reported, things get more complicated because the airline doesn't actually own the majority of its fleet. More than 60 aircraft, which is almost two-thirds of its active fleet, were leased.
What will happen to Spirit's aircraft?
Captain Robert Allen — a partner at Nomadic Aviation Group, a company that facilitates aircraft transport (such as deliveries, returns and repossessions) — spoke to Fox 10 Phoenix about the operation to relocate Spirit aircraft. (4)
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Some aircraft were flown to Phoenix Goodyear Airport, where they are being stored because of the state's dry climate.
"Airplanes that sit in wet climates, they start to deteriorate," Allen said.
To get them to Arizona, however, is a mission in and of itself.
Nomadic has contracted pilots — including some pilots who recently lost their jobs when Spirit closed its doors — to retrieve the abandoned aircraft. But Giordano told NPR that sometimes this isn't an easy feat, as the pilots aren't dressed in airline uniforms, and can face resistance from airport staff. (3)
"You go up to a person of authority and say, 'I need to get on that airplane, I'm repossessing it,' and the first thing they're going to say is, 'No, no, no, no, no,'" Giordano explained. "They're going to call out the sheriffs, the airport police, the airport managers. And everybody's instinct is always no."
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Will all the aircraft stay in storage?
Steve Giordano — the managing partner at Nomadic who works with six of the companies that own Spirit's jets — told NPR that some of the aircraft are "already probably in the pipeline to be leased again." He added that other aircraft would have their engines removed and placed into other aircraft, to then also be leased. (3)
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NPR reported that Spirit owns 28 aircraft that it could sell, all in the Airbus A320 family, according to court filings. (3) Fox 10 also reported that some aircraft will likely be bought solely for their engines, which are worth between $15 million to $20 million. (4)
However, some experts told NPR that, because of the steep cost of jet fuel — which is up about 70% — Spirit might have a tougher time selling the aircraft it owns. (3)
"One of the challenges for Spirit and its creditors is that the high cost of jet fuel makes many of Spirit's planes less appealing to acquire," Henry Harteveldt, an airline analyst at the Atmosphere Research Group, told NPR. (3)
"I think the airline will find buyers — it just may be a slower selling cycle than had this happened a few years ago or even just like, say, three months ago," Harteveldt said. (3)
Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
The New York Times (1),(2); NPR (3); Fox 10 Phoenix (4)
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Rebecca Payne has more than a decade of experience editing and producing both local and national daily newspapers. She's worked on the Toronto Star, the Globe and Mail, Metro, Canada's National Observer, the Virginian-Pilot and Daily Press.
