Spirit Airlines plans to furlough approximately 330 pilots beginning January 31, 2025, as part of an initiative to cut $80m in annual costs and align its workforce with expected flight volumes.
The carrier has already placed 186 pilots on furlough last month and will also downgrade 120 captains to first officers on the same date, marking significant workforce reductions amid ongoing financial challenges.
Spirit is selling 23 A320ceo/A321ceo aircraft to GA Telesis for about $519m, estimating that this will enhance liquidity by $225m through the end of 2025, while also projecting a mid-teen capacity decline for the year influenced by fleet changes.
Following the collapse of its $3.8bn merger with JetBlue, Spirit is facing an uncertain future; although discussions about a potential renewed bid from Frontier Airlines are reportedly happening, the airline remains focused on stabilizing its finances and improving liquidity.
