Part 8/10:
Unexpected Challenges and Bankruptcy Filing
In 2023, Spirit faced yet another unanticipated hurdle. When aircraft manufacturer Pratt and Whitney identified defects in engine components for the Airbus A321s, Spirit found a considerable portion of its fleet grounded for accelerated maintenance. This development compounded existing financial woes, forcing Spirit to restructure its operations.
Amidst these challenges, Spirit took the dramatic step of agreeing to be acquired by JetBlue for $3.8 billion, hoping to stabilize its operations and integrate into a larger, more premium-focused airline. However, the merger faced intense scrutiny from regulators and ultimately was blocked by the Department of Justice, which cited competitive concerns.