Spirit Airlines Admits It Might Not Survive Another Year
Spirit Airlines has just admitted what many suspected: its future is in serious doubt. The news, delivered in a filing with the Securities and Exchange Commission on August 11, sent the company’s stock into a freefall, plummeting 41% in a single trading session on Tuesday. Spirit’s total market value now sits at a paltry $54.3 million. In the filing, the ultra-low-cost carrier said there is “substantial doubt” about its ability to continue operating for more than 12 months from the date of its