In this articleSAVEFollow your favorite stocksCREATE FREE ACCOUNTA Spirit Airlines Airbus A320 taxis at Los Angeles International Airport after arriving from Boston on September 1, 2024 in Los Angeles, California. Kevin Carter | Getty Images News | Getty ImagesSpirit Airlines has warned it might not be able to survive as a going concern if it doesn’t raise more cash, five months after the budget travel icon emerged from bankruptcy.After cutting its debt during restructuring, Spirit has tried to attract bookings by marketing more upscale products and looking for new ways to lower costs. Late last month, the airline announced plans to furlough 270 more pilots this fall.”However, the Company has continued to be affected by adverse market conditions, including elevated domestic capacity and continued weak demand for domestic leisure travel in the second quarter of 2025, resulting in a challenging pricing environment,” the company said in its quarterly report late Monday.Read more CNBC airline newsWhy Delta and United are pulling away from the airline packSouthwest Airlines sets a date for seat assignment launch, lays out new boarding order’He’s showing up.’ Things are getting better at Boeing under CEO Ortberg. Can he keep it going?As its financial results aren’t improving at the same pace creditors agreements require, Spirit will need additional cash. Failing to do so could result in defaults. The carrier is looking at selling some aircraft, real estate or airport gates, it said.”Because of the uncertainty of successfully completing the initiatives to comply with the minimum liquidity covenants and of the outcome of discussions with Company stakeholders, management has concluded there is substantial doubt as to the Company’s ability to continue as a going concern within 12 months from the date these financial statements are issued,” it said in the filing.Spirit’s bankruptcy last year marked the first for a major U.S. airline since 2011.Known for its bright yellow planes, Spirit was a budget airline pioneer in the U.S., but struggled in the wake of a failed acquisition by JetBlue Airways last year, shifting consumer tastes to more upmarket products and an engine recall that grounded many of its airplanes.Don’t miss these insights from CNBC PRONvidia gets price target hike from Goldman Sachs ahead of earningsA bearish ‘double top’ pattern just formed in the Dow. What that meansThe charts show Tesla shares could be on the verge of a big swing, Katie Stockton saysCaterpillar, Eaton reports show hit from tariffs, cast doubt on 2025′s hottest Wall Street trade …
