Spirit Airlines is sounding alarms about its future operations less than six months after the Florida-based budget air carrier emerged from bankruptcy protection.<\/p>\n
“Management has concluded there is substantial doubt as to our ability to continue as a going concern within 12 months,” the airline’s parent company, Spirit Aviation Holdings, wrote in its quarterly financial report<\/a> on Monday.<\/p>\n The report, which reflects data through the end of June, cited ongoing concerns about cash flow, market conditions and aircraft fuel prices and availability, among others.<\/p>\n Spirit stock took a dramatic tumble<\/a> Tuesday after the news.<\/p>\n The ultra-low-cost airline has struggled to regain its footing since the COVID-19 pandemic, prompting the company to seek bankruptcy protection in November, which ended in March.<\/p>\n The company announced last month<\/a> that it would furlough about 270 pilots and demote another 140 this year to trim its workforce and schedule.<\/p>\n “We are taking necessary steps to ensure we operate as efficiently as possible as part of our efforts to return to profitability,” the company told The Hill<\/a>. “We recognize the weight of this decision and are committed to treating all affected Team Members with compassion and respect during this process.”<\/p>\n In Monday’s filing, the company suggested that it’s examining other avenues to stay afloat, including possibly selling some aircraft and real estate.<\/p>\n","protected":false},"excerpt":{"rendered":" Spirit Airlines is sounding alarms about its future operations less than six months after the Florida-based budget air carrier emerged from bankruptcy protection. “Management has concluded there is substantial doubt<\/p>\n