Spirit Airlines Projects First Profit in Eight Years Amid Major Restructuring

Spirit Airlines announced that it expects to remain in the red until 2027, when it anticipates reporting its first full-year profit in eight years. The ultra-low-cost carrier, which filed for bankruptcy for the second time in a year this August, continues to struggle with rising operational costs, excess capacity, evolving traveler habits, and fierce competition from major U.S. airlines.

According to a regulatory filing on Tuesday, Spirit forecasts losses of $804 million in 2025 and $145 million in 2026, before rebounding with a $219 million profit in 2027—marking its first profitable year since 2019. The Florida-based airline is currently executing an aggressive restructuring plan aimed at restoring profitability and long-term stability.

To cut costs, Spirit is downsizing both its fleet and workforce. It has already furloughed about 330 pilots and plans to furlough an additional 270 next month, along with 1,800 flight attendants—around one-third of its cabin crew—effective December 1. These measures are expected to save approximately $211 million in expenses.

The carrier also plans to reduce flight capacity by 20% in 2026, focusing on a smaller, more efficient network before resuming growth between 2027 and 2029. In addition, Spirit intends to sell key assets, including its headquarters in Dania Beach, Florida, valuable LaGuardia Airport slots, and thousands of spare aircraft parts, to bolster liquidity and strengthen its balance sheet.

By the end of 2027, Spirit aims to fully implement its transformation strategy and achieve EBITDAR (earnings before interest, taxes, depreciation, amortization, and rental costs) of around $900 million. The airline’s recovery plan represents a critical effort to adapt to a changing aviation landscape while positioning itself for renewed profitability and sustainable growth.