Airlines Spirit Airlines boosts fleet with 20 leased A320neos from SMBC

SMBC Aviation Capital has announced it has agreed to lease 20 Airbus A320neo aircraft to operator Spirit Airlines.

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SMBC Aviation Capital, a leading aircraft leasing company, and Spirit Airlines, a popular low-cost operator from the United States, have signed a leasing agreement for 20 Airbus A320neo aircraft. With this deal, the airline will be boosting its fleet to expand the network and to make operations more cost efficient.

According to SMBC, the agreement with Spirit Airlines includes a sale and leaseback agreement for 14 A320neos, which will be delivered between November this year and September of next year. The remaining six aircraft of the deal are direct A320neo lease placements from SMBC´s orderbook with Airbus. These will be delivered from September 2022 through February 2023.

Spirit Airlines has been an all-Airbus operator for years. Currently, the airline is flying with nearly 170 aircraft from Airbus´ A320 Family. Of those, 42 aircraft are already from the NEO aircraft family. This latest deal to add 20 more underlines the airline´s satisfaction with the fuel-efficient and modern airliner.

SMBC is currently owning 85 Airbus A320neos and 16 A321neos. For the future, the company has committed to take delivery of 103 additional A320neos and 44 A321neos. Of those 103 aircraft, Spirit Airlines will take delivery of 20 airframes.

About the deal, Barry Flannery, Chief Commercial Officer, SMBC Aviation Capital said: “We are delighted to sign these lease agreements with Spirit, continuing our strong partnership with the airline. The delivery of twenty of the newest generation, fuel efficient A320neo aircraft will help Spirit deliver on its strategy to grow capacity whilst meeting its sustainability goals. This transaction reaffirms how there is continued demand for SMBC Aviation Capital’s young, fuel efficient narrow body aircraft, and how our business continues to offer innovative and flexible financing solutions to customers as the aviation industry recovers from the pandemic.”

Simon Gore, Vice President and Treasurer, Spirit Airlines added: “Our partnership with SMBC Aviation Capital plays a pivotal role in helping us achieve our previously announced capacity plans for 2022 and 2023. Spirit was the first U.S. airline to operate the revolutionary A320neo, which gives our Guests the enhanced experience they’re looking for and offers incredible fuel efficiency. Each of these new aircraft will allow us to deliver on our mission of providing the best value in the sky.”

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