What Went Wrong With Spirit Airlines?

CNBC

Spirit Airlines filed for bankruptcy protection in November 2024, the first major U.S. airline to do so since 2011. The iconic budget airline hasn’t had a profitable year since 2019 and it’s lost more than $2 billion since 2020. Faced with mounting losses and looming debt payments, Spirit has furloughed hundreds of pilots and offered salaried workers buyouts. It sold some of its Airbus fleet and cut routes. The airline has struggled with shifting demand, a spike in costs, and a Pratt and Whitney engine recall grounding dozens of its jets, weaker-than-expected sales and a failed acquisition with JetBlue Airways. How did the icon of U.S. budget air travel get here and what’s next for the low cost carrier? Chapters: 1:21 The rise of Spirit Airlines 2:45 Challenges 5:08 Competition 8:59 What’s next? Produced and Edited by: Erin Black Animation: Jason Reginato Supervising Producer: Jeniece Pettitt Editorial Support: Leslie Josephs » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to earn more money at work? Take CNBC’s new online course How to Negotiate a Higher Salary. Expert instructors will teach you the skills you need to get a bigger paycheck, including how to prepare and build your confidence, what to do and say, and how to craft a counteroffer: https://cnb.cx/4fB26Ru Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC What Went Wrong With Spirit Airlines?