Dublin's AerCap Secures Strategic Airbus Deal from Spirit Airlines
Dublin-based AerCap has secured a strategic agreement with Spirit Airlines, acquiring 60 Airbus delivery slots and restructuring lease arrangements in a deal worth $150 million.
AerCap headquarters in Dublin, showcasing Ireland's position as a global aviation finance hub
In a significant development for Dublin's thriving financial sector, aircraft leasing giant AerCap has secured a strategic agreement with Spirit Airlines, involving valuable Airbus delivery slots and a complex financial restructuring.
Strategic Fleet Restructuring
The deal sees Spirit Airlines transferring 60 A320neo delivery slots to AerCap, while returning 27 leased aircraft. In exchange, AerCap will provide Spirit Airlines with $150 million in funding and establish new leasing arrangements for 30 A320neo and A321neo aircraft, scheduled for delivery between 2027 and 2029.
This strategic move reinforces Dublin's position as a global aviation finance hub, following recent developments that have seen major infrastructure investments in Irish aviation.
Impact on Spirit's Operations
The restructuring was precipitated by AerCap's termination of pre-delivery payment financing agreements for 36 Airbus deliveries to Spirit Airlines. This action, combined with defaulted lease payments, has led Spirit Airlines to file for Chapter 11 bankruptcy protection - their second such filing within a year.
Dublin's Aviation Finance Leadership
This deal underscores Dublin's growing influence in global aviation finance, building upon decades of expertise in the sector. The transaction's complexity and scale demonstrate why Dublin continues to attract international business attention, despite infrastructure challenges.
Van Morrison
Irish journalist exploring the intersections of politics, culture, and identity across Ireland and the wider Celtic world.