07:36 AM EDT, 04/08/2024 (MT Newswires) -- Spirit Airlines ( SAVE ) said Monday it reached an agreement with Airbus to defer all airplanes it has ordered and were scheduled for delivery from Q2 2025 through the end of 2026 to instead arrive in 2030 to 2031.

The discount airline said the deferral would improve its liquidity position by about $340 million over the coming two years. The amendment also defers by two years a deadline for deciding on whether to purchase additional Airbus planes. "There is no change to the total number of aircraft on order or Spirit options for additional aircraft," according to a statement.

The deferrals exclude two direct-lease Airbus aircraft scheduled for delivery in 2025.

The company also said it plans to furlough about 260 pilots effective Sept. 1 because of a lack of Pratt & Whitney GTF engines to get grounded planes back into service.

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