EAST HARTFORD, Conn. - The bankruptcy and grounding of Spirit Airlines could provide modest relief to a long-running shortage of Pratt & Whitney Geared Turbofan (GTF) engines used to power late-model Airbus A320neo jets.
Spirit ceased all operations May 1, leaving its all-Airbus fleet of 114 aircraft, including dozens powered by GTF engines that can now be removed for use by other airlines. Industry executives say the spare engines being stripped from Spirit's planes are already being leased out to airlines, offering some temporary breathing room in a market that has been severely strained for years by inspection backlogs and manufacturing problems at Pratt & Whitney.
GTF engines power at least 40% of A320neos in service, and hundreds of those planes have been grounded due to long waits for engine repairs. Austin Willis, CEO of Willis Lease Finance Corp., confirmed that GTF engines from Spirit's A320s are being removed and leased to customers to support grounded aircraft. He also noted leasing rates have not declined for the engines, suggesting demand still outpaces supply.
Aftermarket suppliers say there is strong appetite for the spare engines, along with auxiliary power units, landing gear and flight controls, though the bulk of Spirit's assets are unlikely to reach the market for at least several more months.