People behind on car payments are not the only ones who might see a repossession. Recently, Spirit Airlines went out of business, leaving its aircraft in various locations across the country. The Wall Street Journal reported that Nomadic Aviation Group is responsible for recovering these planes and putting them into storage.
Spirit Airlines leased its aircraft instead of buying them outright. Last year, the airline declared bankruptcy for the second time and had already tried to return half of its fleet. Although the shutdown was expected, it happened quickly. Spirit’s planes landed wherever their last flights ended, with some even left at gates where passengers disembarked, blocking access. There were no Spirit employees available to move the aircraft.
Nomadic Aviation now steps in to retrieve these planes. They must check if the aircraft are still safe to fly before relocating them to a storage facility. Co-founder Bob Allen faced a tight deadline, saying he had just six hours to find 20 pilots to help move the planes.
Recovering an aircraft involves more than just towing it away. Nomadic has to arrange fuel, flight plans, and crew, and ensure each plane is airworthy. Most will go to storage facilities in Arizona because the dry climate prevents damage. The future of Spirit’s fleet depends on decisions made by the leasing companies that own them.
