---
schema_version: "secwatch.filing_event.v1"
accession: "0001498710-24-000142"
form_type: "8-K"
ticker: "FLYYQ"
cik: "0001498710"
company_name: "Spirit Aviation Holdings, Inc."
filed_at: "2024-03-29T23:59:59+00:00"
generated_at: "2026-06-04T05:20:22.038660+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Spirit Airlines secures $150M-200M in compensation from IAE for grounded GTF engines

## Summary
- Agreement with IAE provides monthly credit for each Spirit A320neo grounded due to GTF engine inspections through end of 2024.
- Estimated liquidity impact between $150M and $200M, based on days aircraft are unavailable in 2024.
- Spirit releases IAE from claims related to impacted engines accrued prior to December 31, 2024.
- Spirit will discuss arrangements with Pratt & Whitney for aircraft unavailable after 2024.

## SEC filing metadata
- accession: 0001498710-24-000142
- form_type: 8-K
- ticker: FLYYQ
- cik: 0001498710
- company_name: Spirit Aviation Holdings, Inc.
- filed_at: 2024-03-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1498710/000149871024000142/0001498710-24-000142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498710/000149871024000142/save-20240326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001498710-24-000142
- JSON: https://secwatch.observer/filing/0001498710-24-000142.json
- Plain text: https://secwatch.observer/filing/0001498710-24-000142.txt

## Key facts
- Material Agreements
  Spirit Aviation Holdings, Inc. entered into Agreement with International Aero Engines, LLC (IAE) valued at between $150 million and $200 million (effective 2024-03-26).
  - Action: entry
  - Counterparty: International Aero Engines, LLC (IAE)
  - Value: between $150 million and $200 million
  - Effective: 2024-03-26
  source text: On March 26, 2024, Spirit entered into an agreement with International Aero Engines, LLC ("IAE"), an affiliate of Pratt & Whitney (the “Agreement”) pursuant to which IAE will provide Spirit with a monthly credit through the end of 2024, subject to certain conditions, as compensation for each Spirit aircraft unavailable for operational service due to GTF engine issues.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000149871024000142/0001498710-24-000142-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.