Yesterday, I shared about a concerning warning from Spirit Airlines in a government filing suggesting it might not last for another year. With the budget carrier hemorrhaging money, it is facing a much more difficult time renewing a contract with its credit card processor, which is fundamental to its business model.
In a memo shared by Kris Van Cleave, CEO Dave Davis suggested to employees that the dire warning was a legal requirement rather than a reality:
Let me start by providing some context around what’s included in the report. The report uses the phrase “substantial doubt about the Company’s ability to continue as a going concern.” This is a phrase required by our outside auditors to convey that there is risk if we do not make changes. But, we are.
A great solo travel tip spotted this week on Live and Let's Fly.
