A Spirit A320neo in Los Angeles [Credit: AirlineGeeks | William Derrickson]
Key Takeaways:
Spirit Airlines is furloughing approximately 330 pilots and downgrading 120 captains as part of an $80 million cost-cutting plan, following previous workforce reductions.
The airline is undertaking these drastic measures, including selling 23 aircraft and reducing capacity, to combat mounting financial losses and return to profitability.
These significant changes come amidst reports that Spirit Airlines and Frontier Airlines are once again discussing a potential merger.
Spirit Airlines is furloughing more pilots as part of an ongoing cost-cutting initiative. Just last month, the ultra-low-cost carrier placed 186 of its pilots on furlough.
The beleaguered airline continues to face mounting losses, reporting a net loss of $158 million in the second quarter. More losses are expected in its third-quarter earnings report.
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Ryan is Sr. Director of Digital for Firecrown's Aviation Group. In 2013, he founded AirlineGeeks.com, a leading trade publication covering the airline industry. Since then, his work has been featured in several publications and news outlets, including CNN, WJLA, CNET, and Business Insider. During his time in the airline industry, he's worked in roles pertaining to airport/airline operations while holding a B.S. in Air Transportation Management from Arizona State University along with an MBA. Previously, he worked for a Part 135 operator and later a major airline. Ryan is also an Adjunct Instructor at Embry-Riddle Aeronautical University.
