Spirit Airlines Seeks $533M Auction for 20 Airbus Jets

Airline asks bankruptcy court to approve deal with aviation asset firm CSDS to serve as stalking horse bidder.

Published on Feb. 12, 2026

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Spirit Airlines has asked a New York bankruptcy judge to approve a deal it reached with aviation asset firm CSDS Asset Management LLC to set a $533.5 million auction floor price for 20 Airbus A320 and A321 aircraft. Under the proposed arrangement, CSDS would serve as the stalking horse bidder, with a $16 million break-up fee and up to $2.5 million in reimbursable expenses.

Why it matters

This auction represents a critical step in Spirit's bankruptcy proceedings as the airline looks to restructure its fleet and operations. The $533.5 million floor price indicates significant value in Spirit's aircraft assets, which could help the company pay down debts and emerge from Chapter 11 on stronger financial footing.

The details

Spirit is seeking court approval to hold the auction for the 20 Airbus jets, comprising a mix of A320 and A321 models. The airline has reached a deal with CSDS Asset Management LLC to serve as the stalking horse bidder, setting a $533.5 million floor price. CSDS would be entitled to a $16 million break-up fee and up to $2.5 million in reimbursable expenses if outbid.

  • Spirit filed for Chapter 11 bankruptcy protection in the Southern District of New York on February 6, 2026.

The players

Spirit Airlines

A major U.S. ultra-low-cost carrier that filed for Chapter 11 bankruptcy protection in early 2026.

CSDS Asset Management LLC

An aviation asset management firm that has agreed to serve as the stalking horse bidder for Spirit's auction of 20 Airbus aircraft.

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What’s next

The bankruptcy court must approve Spirit's request to hold the $533.5 million auction for the 20 Airbus jets, with CSDS Asset Management LLC serving as the stalking horse bidder.

The takeaway

Spirit's proposed aircraft auction represents a key milestone in the airline's bankruptcy proceedings, as it looks to restructure its fleet and operations to emerge on stronger financial footing. The $533.5 million floor price indicates significant value in Spirit's aircraft assets, which could help the company pay down debts.