New York (AP) – Just months after leaving Chapter 11 of bankruptcy, Spirit Airlines warns of its future ability to stay at work.
It is a “great skeptic” about its ability to continue as a constant interest next year-accounting for the existence of the resources needed to maintain operations. In a quarterly report issued on Monday, Spirit referred to the “harmful market conditions” that continued to confront it despite the recent restructuring and other efforts to renew the offers.
This includes the weak demand for local entertainment travel, which Sperte said in the second quarter of its financial year-from other challenges and “uncertainty in its commercial operations” that the company expects its headquarters in Florida to continue “at least in the remaining period in 202.”
Spirit is famous for its no-private trips on a fleet of bright yellow aircraft, in order to return to profitability and increase resources to compete with competitors since the Covid-19s. Ultimately, the operating costs and debts eventually led to a request for bankruptcy protection in November. By the time of presenting this chapter 11, the airline has lost more than $ 2.5 billion since the beginning of 2020.
When Spirit out of bankruptcy protection in March, the company succeeded in restructuring some of the debt waves on the horizon and securing new financing for future operations. SPIRIT has continued to make other efforts to reduce costs since-including plans to subjugate about 270 pilots and reduce about 140 captains to the first officers in the coming months.
This leave and intervention is scheduled to enter, both of which were announced in July, on October 1 and 1 November, in line with the “expected journey size” for the spirit of 2026 “, the company noticed in its separate report. They also follow the previous leave and reduce the jobs taken before submitting the company’s bankruptcy last year.
Despite these efforts and other efforts to reduce costs, Spirit stressed on Monday that it needs more liquidity. As a result, the company said it may also sell certain planes and real estate.
A relatively young soul fleet, which made the airline an attractive target to acquire over the years. But these acquisition attempts by budget competitors such as Jetblue and Frontier did not succeed before and during the bankruptcy process.
Spirit shares fell by more than 40 % on Tuesday morning, with the company’s shares trading more than $ 1.80 at about 11 am.