Spirit Airlines Boosts Liquidity, Defers Plane Deliveries and Furloughs Pilots Amid Industry Changes

• Spirit Airlines deferring Airbus plane deliveries scheduled for 2025-2026 to 2030-2031, boosting liquidity by $340 million • Deferrals allowing Spirit to "reset the business" and focus on core airline amid competitive changes • Due to deferrals and grounded planes, Spirit furloughing 260 pilots starting September 1 • Entered compensation agreement with Pratt & Whitney over engine issues, improving liquidity $150-$200 million
• Continuing to evaluate using financeable assets to add liquidity over coming months after failed JetBlue merger