SPIRIT Airlines has warned it could have just 12 more months of operations before shutting down completely.
The budget airline is still scrambling to stay afloat after climbing out of bankruptcy and planning mass layoffs.
Stocks for Spirit plummeted on Tuesday after a concerning filing with the Securities Exchange Commission was made public.
In the letter, the airline starkly warned that it would need more cash from liquidation as management had a “substantial doubt as to our ability to continue as a going concern within 12 months,” Forbes reported.
The company went on to blame “adverse market conditions” like “weak demand for domestic leisure travel” for its poor performance.
Management fears that without the cash, the airline will have to sell off some aircraft or airport gates.
More to follow… For the latest news on this story, keep checking back at The U.S. Sun, your go-to destination for the best celebrity news, sports news, real-life stories, jaw-dropping pictures, and must-see videos.
Like us on Facebook at TheSunUS and follow us on X at @TheUSSun
