GA Telesis has signed a purchase agreement to acquire 23 used A320 and A321 aircraft from Spirit Airlines.
According to an SEC filing from Spirit, the total purchase price is expected to be $519 million. The aircraft are planned to be delivered through February 2025.
“The company estimates the net proceeds of the sale, combined with discharging the aircraft-related debt from its balance sheet, will benefit its liquidity by approximately $225 million through year-end 2025,” Spirit read in the filing.
This acquisition boosts GA Telesis' fleet portfolio, allowing the company to meet increasing global demand for narrow-body aircraft. GA Telesis intends to market these aircraft to its customer base for continued commercial airline operations.
"We are thrilled to announce this significant acquisition, which adds a large number of highly sought-after Airbus A320ceo and A321ceo aircraft to our portfolio," said Marc Cho, president of GA Telesis LIFT Group. “The A320ceo family of aircraft is renowned for its efficiency, performance, and reliability, making it an attractive option for airlines across the world. We are confident these aircraft will provide significant value to our customers as they continue their operations.”
The aircraft were manufactured between 2014 and 2019, with this being the company's largest-ever acquisition of non-leased aircraft of similar vintages.
This announcement comes after the company recently acquired several on-lease aircraft from Avolon.