A bankruptcy court approved Spirit Airlines' $668.1 million sale of 27 aircraft; liquidation continues. Save 2026-B LLC, controlled by equipment-note holders, will take 23 planes as collateral; an FTAI affiliate will pay $100.7 million in cash for the other four.
Spirit has other assets in play: its former Dania Beach headquarters sold for $93.25 million, while JetBlue won an auction for Spirit's 22 LaGuardia Airport slots. The court approved the slot transfer, but regulatory approvals are also involved. Google agreed to pay $10 million for company data, including about 100 million emails and 500 million Microsoft Teams chats; the data is supposed to be deidentified before Google receives it, and that deal still needs bankruptcy court approval.
Under the plan, DIP lenders—those financing Spirit during bankruptcy—have superpriority claims and are among the first to be repaid; administrative and professional claims rank next. Other secured and unsecured creditors may receive distributions after higher-priority claims are addressed. Shareholders rank last and are not guaranteed a payout.
