By Rajesh Kumar Singh and Doyinsola Oladipo

NEW YORK (Reuters) -In a fleet optimization move, Spirit Airlines will reject its commitment to buy 52 Airbus planes along with its options for 10 others. The aircraft orders will be taken over by aircraft lessor AerCap.

This three-way agreement is part of a dispute settlement between Spirit and AerCap, which was approved on Friday by U.S. Bankruptcy Court for the Southern District of New York.

The conflict with the world’s largest aircraft leasing company was the trigger for pushing Spirit into its second bankruptcy.

In late August, AerCap unexpectedly terminated the lease agreements for 36 new Airbus A320neo family jets that were scheduled for delivery to Spirit between 2027 and 2028. It also claimed default on the leases for 37 aircraft al

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