Spirit Airlines, Inc.

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Market cap $118M

The company has previously furloughed about 330 pilots and plans to furlough another 270 pilots in November.

At the start of 2025, roughly 200 Spirit employees were laid off during the airline's early exploration into escaping bankruptcy.

United's CEO Scott Kirby has been a vocal critic of the business model of no-frills airlines and has repeatedly questioned their viability.

Spirit Airlines' prospects are so dire that a rival carrier explicitly talked about its potential demise when announcing targeted new routes.

The carrier, recognizable by its bright yellow jets, has struggled to steady operations since emerging from its first bankruptcy in March.

Spirit Air continues to suffer from adverse market conditions, including weak demand for domestic leisure travel.

Fewer people are booking leisure trips and tough competition from other carriers are making it hard to hit the money targets, the airline said.

The transition comes as the Florida-based low-cost carrier continues to grapple with financial woes and ongoing restructuring efforts.

Spirit rejected the proposal as it would not provide the anticipated shareholder value and raised concerns over the timing and successful completion of the deal.

Spirit Airlines is laying off approximately 200 employees as part of an effort to reduce expenses as the company looks to emerge from bankruptcy, the company said. The airline's top executive, CEO Ted Christie, informed employees of the job cuts on Wednesday evening.