Buy Your Very Own Atlantic City-Based Plane for a Bargain

We have all seen Movies and TV Shows with Rich People who travel everywhere in their own private airplanes. It's the ultimate sign of luxury and status symbol to be the owner of a Private Jet.

The airplanes you typically see in movies like Kingsmen and tv shows like The Blacklist are Small Private Jets such as Phenom or Cessna.  Those typically cost between $3 Million and $25 million to own.

But one Airline Company well-known in New Jersey will be selling their old Airbus aircraft at a discount price because of unforeseen circumstances.

What Company Is Selling 23 of Their Old Aircraft?

Spirit Airlines, which has been the primary airline that operates out of Atlantic City International Airport for the last couple of decades, will be selling at least 23 of their older Airbus planes.

With more than $1 Billion in debt looming over the company, Spirit Airlines is selling its older aircraft to handle their financial issues. The company has agreed to sell 23 of its Airbus A320ceo and A321ceo models to GA Telesis for $519 million.

Those Airbus models usually cost between $50 million to $100 million.  But GA Telesis, a commercial aviation and aerospace solutions company, has acquired these aircraft for an average of $22.5 million per Airbus.

According to Forbes, Spirit Airlines Market Shares have risen by 20 percent, a significant increase for a company on the verge of bankruptcy. With plans to cut $80 million in Annual Operating Costs, Spirit Airlines will be laying off employees and cutting back on flights in 2025.

But now that Spirit Airlines has made half a billion selling their older aircraft, there is industry talk they could sell more Airbus Models. The Wall Street Journal has reported that there is renewed optimism about a merger with Frontier Airlines.

This merger would eliminate the need for Spirit Airlines to maintain its large fleet of aircraft. Frontier would absorb Spirit Airlines agreements with different airports, like Atlantic City International Airport.

So if you had an extra $23 million sitting in your bank account, would you buy a used 2017 Spirit Airbus aircraft?  It will cost much less than buying a brand-new model and it would be like a sports fan collecting memorability from an old stadium that has been decommissioned.

In the aftermath of the COVID-19 Pandemic in 2020, the aerospace industry had significant revenue losses that impacted both Airline Companies and Airports. As as result, many New Jersey airports have not made back the revenue lost for infrastructure upgrades.

But these 18 NJ Airports are receiving federal grants to perform the infrastructure upgrades and offset the in-house operating costs.