One month after Spirit Airlines ceased all operations following a failed government bailout, the bankrupt ultra-low-cost carrier’s assets have become the focus of a competitive auction process. According to reports from CBS News and Aerospace Global News, the airline is currently winding down its business, with significant interest centered on its fleet of Airbus A320s and high-value take-off and landing slots at major U.S. airports.
Connor Johnson, identifying as the CEO of Mooney International, formally submitted a bid on June 14 to acquire Spirit’s assets. The proposal aims to integrate Spirit with Mooney International and an entity known as SEAir to maintain a low-cost travel model. However, industry observers have noted complexities in the bid, as Johnson is currently in the process of finalizing his acquisition of the Texas-based manufacturer, Mooney International, raising questions about the financial backing of the offer.
Separately, Flight Global reports that Florida Air Express has emerged as another potential buyer, signaling plans to launch a new carrier based at Palm Beach International Airport. Spirit’s bankruptcy administrators are currently evaluating the proposals, which include the auction of the company’s Dania Beach headquarters and various maintenance facilities. Spirit reported $8.6 billion in assets against $8.12 billion in debt during its August 2025 filing, with current recoverable hard assets estimated at $1.7 billion.