Spirit Airlines ends October with $20.9 million net profit
However, it still ended the month with an operating loss of $96.3 million.
As part of its Chapter 11 bankruptcy case, Spirit Airlines has published a monthly performance report, which indicated that the low-cost carrier, largely benefiting from reorganization proceeds, ended October with a net profit of $20.9 million.
On December 8, 2025, Spirit Airlines released its monthly operating report for the month of October, with the company, which is still going through its Chapter 11 case, ending the period with $847.3 million of cash/restricted cash (adjusted).
At the end of September, it held a balance of cash/restricted cash of $650.2 million (adjusted).
The low-cost carrier ended October with operating revenues of $270.5 million, compared to revenues of $257.million in September. Spirit Airlines reduced its monthly operating expenses from $390.4 million, including $57.6 million used to lease aircraft, to $366.8 million, slashing its lease expenses to $50.9 million.
As such, Spirit Airlines still ended the month with an operating loss of $96.3 million.
However, the reorganization-related income of $124.3 million and total other income of $115.8 million helped the low-cost carrier swing back to profitability of $20.9 million. In comparison, the airline ended August and September with a net loss of $87.2 million and $260.5 million, respectively.
It ended Q3 with a net loss of $317.4 million, while Q2’s net loss was $256.7 million, which covered the period from March 13 to June 30, which is considered the succeeding company’s result after Spirit Airlines’ first bankruptcy case ended on the former date.
During October, the airline, which began its second Chapter 11 bankruptcy case in less than a year on August 29, made significant progress in the court-protected reorganization, including the court’s approval of its deal with AerCap. The aircraft lessor essentially forced Spirit Airlines to undergo the process once again, with the company deeming that the airline had defaulted on its leases.
It also reached agreements with other lessors, including Carlyle Aviation Partners, which the court authorized in December, and gained the court’s approval to prematurely end some airport contracts, including with ground handling companies and airline use and lease agreements.
On October 21, the United States Bankruptcy Court for the Southern District of New York also approved Spirit Airlines’ motion to reject leases for at least 67 aircraft on October 27, with some of the leases being extended beyond that date.
In a later agreement with International Aero Engines (IAE), which also has to be approved by the court, Spirit Airlines committed to operating from 10 to 28 A320neo family and 78 A320ceo family aircraft, as of the effective date of its Chapter 11 bankruptcy plan.
Rytis Beresnevicius
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