What Went Wrong With Spirit Airlines?

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?