Spirit Airlines Delays New Plane Deliveries, Furloughs Pilots to Cut Costs and Boost Financial Position

Spirit Airlines to delay deliveries of new Airbus planes originally scheduled from Q2 2025 to end of 2026, now to be delivered in 2030-2031
Projected to improve Spirit's liquidity by approximately $340 million over next 2 years
Part of effort to bolster profitability and strengthen balance sheet amid changes in competitive environment
Will furlough about 260 pilots starting September 1 due to delayed plane deliveries and engine availability issues
Shares rose 4.5% on news, though still down 70% for the year; moves aimed at ensuring strong, profitable future