Spirit Airlines has been making headlines lately—and not for the reasons any airline would want. The latest chapter in the ultra-low-cost carrier’s story began in November 2024, when the company filed for Chapter 11 bankruptcy. While bankruptcy is never ideal, it’s not unheard of in the airline industry. For now, Spirit is continuing to operate while working through its financial troubles, though it remains unprofitable in the process. But with all this uncertainty, should you still make travel plans with Spirit?
A Deep Dive into Spirit’s Financial Struggles
Spirit recently filed its 2024 financial report with the Securities and Exchange Commission, and the numbers paint a bleak picture. The airline posted an operating loss of $1.1 billion, resulting in a negative operating margin of 22.5%. Simply put, for every dollar Spirit brought in last year, it lost 22.5 cents. That’s a tough situation for any business, let alone an airline already known for razor-thin margins.
For a detailed breakdown of Spirit’s financials, check out this analysis from One Mile at a Time: Spirit Airlines Financial Results.
Should Passengers Be Concerned About Booking with Spirit?
Despite its financial woes, Spirit is still selling tickets and flying passengers. But should travelers be wary about making travel plans with them? If you’re considering booking a Spirit flight, here are some key risks to keep in mind:
Flight Schedule Uncertainty
The biggest concern right now is scheduling. Spirit is making significant changes to its route network, adding flights to some cities while cutting service to others. According to an analysis by Skift, data from Cirium indicates that Spirit’s available seats will decrease by about 16% in the second quarter of 2025. Fort Lauderdale-Hollywood International Airport, its busiest hub, will see a similar 16% reduction in capacity.
Some of the biggest cuts are happening in major markets on the East and West Coasts:
- LaGuardia (LGA): Capacity down 47%
- Los Angeles (LAX): Capacity down 34%
- San Diego (SAN): Capacity down 45%
Adding to the uncertainty, Spirit’s fleet has been impacted by ongoing issues with the Pratt & Whitney geared turbofan engines used in its Airbus A320neo aircraft. In a March 4 regulatory filing, Spirit stated that the “temporary removal of engines from service is expected to continue through at least 2026.” That means the airline may continue adjusting its schedule based on aircraft availability. More on that from Aviation Week: Spirit Reports Deepening Losses.
The bottom line? There’s no guarantee that your flight will operate as scheduled, especially if you book far in advance. The closer your departure date, the lower the risk of a last-minute cancellation or change.
Could Spirit Stop Flying Altogether?
In the short to mid-term, I don’t see Spirit shutting down entirely. Once it emerges from bankruptcy, the airline will likely seek ways to stay afloat, whether through restructuring or a potential merger with another ultra-low-cost carrier (ULCC). Spirit has already announced some major strategic changes, including bundling fares and eliminating change and cancellation fees—though it recently backtracked and reinstated fees on its cheapest “Go” fares.
Should You Book with Spirit?
If you’re considering flying Spirit, here’s my take:
- For last-minute trips: Booking close-in is relatively low risk since schedule changes are less likely.
- For trips months in advance: Be prepared for possible schedule adjustments or cancellations.
- For flexibility: Spirit’s policy changes mean you may have fewer options if plans change.
Final Thoughts
I hope Spirit finds a way to navigate this rough patch, whether as a smaller, more sustainable airline or by merging with another ULCC. They’ve made strides in improving operations, and their presence in the market serves a valuable purpose. That said, for now, I’d be comfortable booking a Spirit flight for a short-notice trip—preferably in the Big Front Seat, of course.
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