Spirit Airlines has warned it might not be able to survive a year as a going concern if it doesn’t raise more cash, five months after the budget travel icon emerged from bankruptcy.
After cutting its debt by converting $795 million to equity during restructuring, Spirit has tried to attract bookings by marketing more upscale products and looking for new ways to lower costs. Late last month, the airline announced plans to furlough 270 more pilots this fall.
More from CNBC -