Airlines: Frequent Flyer: Spirit Assets Go to Auction, US Jet Fuel Potential Usage in Europe, Non-US Citizen Arrivals Into the US Fall Y/Y

Research evidence excerpt

Airlines: Frequent Flyer: Spirit Assets Go to Auction, US Jet Fuel Potential Usage in Europe, Non-US Citizen Arrivals Into the US Fall Y/Y

Update

May 12, 2026 04:01 AM GMT

Morgan Stanley & Co. LLCMAirlines | North America Ravi Shanker

Equity Analyst

Frequent Flyer: Spirit Assets Go Ravi.Shanker@morganstanley.comMadison J Pasterchick +1 212 761-6350

Research Associate

Madison.Pasterchick@morganstanley.com +1 212 761-3787

to Auction, US Jet Fuel Potential Nancy Hipp

Nancy.Hipp@morganstanley.com +1 212 761-1311

Usage in Europe, Non-US Citizen

Airlines

North America

Industry View AttractiveArrivals Into the US Fall Y/Y

Spirit’s assets are now likely up for grabs following closure,

European airlines are looking to potentially use US-grade Jet A

fuel, and April International arrivals into the US was down 10%

but likely impacted by early Easter timing.

Following the recent shutdown of Spirit Airlines, there has been a notable effort

to reclaim aircraft, liquidate assets, and redistribute valuable airport slots

among other airlines . According to industry officials, Spirit stopped operations

with 90+ aircraft in various airports nationwide; while there has been some

resistance from airport officials due to confusion, dozens of aircraft have since been

successfully retrieved by their owners (who Spirit leased from) and moved to

storage facilities. It is likely that some of the aircraft may return to service under

other airlines soon while others may remain in storage long-term. Additionally,

Spirit is trying to monetize assets such as maintenance facilities, office properties in

South Florida, spare engines, airport gates, and valuable takeoff/landing slots in

busy airports, however, broader economic conditions could slow Spirit's liquidation