Spirit Airlines appears not to have any spirit left in its tank. Just months after filing for bankruptcy, Spirit Airlines’ parent company has announced that Spirit’s future is in serious doubt. Spirit Aviation Holdings’ announcement comes as Spirit’s stock has drastically slipped by 40% in the last several days. AP News had more insight into Spirit Airlines’ troubled situation: Just five months after emerging from Chapter 11 bankruptcy protection, Spirit Airlines is warning about its future ability to stay in business. Spirit Aviation Holdings, the budget carrier’s parent company, says it has “substantial doubt” about its ability to continue as a going concern over the next year — which is accounting-speak for running out of money. In a quarterly report issued Monday, Spirit pointed to “adverse market conditions” that it’s continued to face after a recent restructuring and other efforts to revive its business. That includes weak demand for domestic leisure travel, which Spirit said persisted in the second quarter of its fiscal year — among other challenges and “uncertainties in its business operations” that the Florida company expects to continue “for at least the remainder of 2025.” Spirit’s shares tumbled nearly 40% by midday Tuesday, with the company’s stock trading at just over $2.20 as of around 1 p.m. ET. Known for its no-frills, low-cost flights on a fleet of bright yellow planes, Spirit has struggled to recover and compete since the COVID-19 pandemic. Rising operation costs and mounting debt eventually led the company to seek bankruptcy protection in November. By the time of that Chapter 11 filing, the airline had lost more than $2.5 billion since the start of 2020. When Spirit emerged from bankruptcy protection in March, the company successfully restructured some of its debt obligations and secured new financing for future operations. Spirit has continued to make other cost-cutting efforts since — including plans to furlough about 270 pilots and downgrade some 140 captains to first officers in the coming months. Spirirt Airlines has been known to have horrible customer service. Take a look: When #spiritairlines leaves you stranded in Puerto Rico with no employees in sight and holds your luggage and money hostage. We were stuck overnight with no clothes or essentials for our 3 or 1 year olds and are still without answers and searching for flights #Spirit #useless pic.twitter.com/jzKqf9Yuhn — Tito Arias (@2touchTito) August 2, 2021 Really disappointed in @SpiritAirlines for not being willing to work with customers on connecting flights and leaving people stranded overnight. Really should do better. — Chris Butler (@Chris24Butler) August 11, 2025 Not to mention all of the fights that occur on the airline’s planes and check out counters: NEW: Spirit soul plane out of Miami devolves into madness over claims of ‘disrespek’ pic.twitter.com/TDg3gAvnsd — Lucky Burglar (@lucky_burglar) June 23, 2024 A WILD brawl broke out at a #SpiritAirlines check-in counter in Baltimore… and it was all caught on video! pic.twitter.com/vrrOlfEWdF — TMZ (@TMZ) May 31, 2024 There’s a Time & Place for Everything—Work Isn’t One of Them! Is this why the airline is having so many issues? Two Spirit Airlines workers get into a heated confrontation—right on the job. Professionalism out the window. Is this part of a bigger problem? Thoughts?… pic.twitter.com/Kh2b26ld6M — Tony Lane (@TonyLaneNV) February 21, 2025 BREAKING: Wild brawl breaks out at Philly airport between Spirit Airlines and passengers pic.twitter.com/fzgVg8MUmq — Jack Poso (@JackPosobiec) February 6, 2023 No wonder why their stock is tanking! Watch more on how the downfall of Spirit occurred: