Spirit Management Financial Filing Concerns, 8/12/2025

Today’s news on the financial condition of our airline is a continuation of what we've experienced over the last two years, and it’s hard to process. Spirit management issued a “Going Concern” warning in its quarterly financial filing, just months after emerging from bankruptcy.

While management has tried to attract more bookings through route and product changes, the current downturn in domestic travel, the continued Pratt & Whitney engine grounding, and other pressures have prevented a full recovery from bankruptcy. 

Management says it is considering additional cost saving actions, including the sale or leasing of aircraft, and excess airport gate capacity, as well as eliminating some fixed costs. At the same time, Spirit’s credit card processor is requesting additional collateral before renewing its agreement, which expires December 31, 2025—a requirement that could significantly reduce cash.

But most concerning, management cautions in the SEC filing “there can be no assurance that such initiatives will be successful. If these initiatives are unsuccessful, management believes it is probable that the Company will be unable to comply with the minimum liquidity covenants under the Company’s debt obligations and credit card processing agreement at some point in the next 12 months, which would result in an event of default…which could cause the maturity of the Company's debt obligations to be accelerated.” To be clear, management has reiterated that they remain committed to working the recovery plan. The EVTO program remains in place.

Your Spirit AFA Officers, AFA International Officers, and our legal experts at AFA International are engaged to continue fighting to protect every Spirit Flight Attendant, mitigate harm, and protect the interests of Spirit Flight Attendants. 

AFA EAP is available 24/7 at 800-424-2406.

But we need to be direct: Spirit is in a fragile financial position, likely more so than at any point in the previous 24 months. We urge you to take an honest look at your personal situation, examine all your options, and prepare for all possible scenarios. Use this time to assess your financial situation and begin strategizing how best to weather the financial impact that flying cutbacks may have on your household. Read this article from your AFA EAP for steps on how to assess your financial status.

We are being direct because even as we have many more ways to fight because of our union, we also want to get you the truth about the situation at our airline and how each of us can take actions to protect and prepare ourselves for any challenge. 

We will fight one day longer and one day stronger together! Put on your oxygen mask first and look out for each other. Stay close to union communications and know we are not alone.