Have I been living under a rock… or has Spirit Airlines management been living under a rock? Maybe I just need to go to business school, or something, because the math ain’t mathing….
Then the company filed for Chapter 11 bankruptcy, which it emerged from within months. While that helped with some debt issues, it didn’t help with the pace at which the airline is burning through cash, given that Spirit didn’t renegotiate any labor contracts or aircraft leases, or do anything else to improve its prospects.
So anyway, not surprisingly, Spirit has been burning through cash quickly, and recently the airline issued an alarming regulatory filing, casting “substantial doubt” on its ability to operate for 12 more months. The company’s CEO tried to downplay this, but again… math.
A great solo travel tip spotted this week on One Mile at a Time.
