Spirit Airlines has canceled commitments for over 60 Airbus aircraft as part of a settlement with leasing company AerCap . This comes shortly after the two parties agreed to cancel the leases of 27 aircraft it currently holds from AerCap.

As part of the settlement, AerCap will pump $150 million into Spirit, which remains under bankruptcy protection. This will be in addition to a separate $475 million financing agreement as the carrier desperately struggles to stay afloat.

Spirit Cancels Airbus Order, AerCap Swoops In

As reported by Reuters, the beleaguered ultra-low-cost carrier has backed out of a commitment to buy 52 Airbus narrowbodies and another ten options as part of its long-running dispute with AerCap. Under the terms of the settlement — approved by the US Bankruptcy

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