Spirit Airlines presented a mixed financial picture in a monthly operating report for November, as the company appears stressed but not immediately imperilled.
On one hand, the company burned about $47 million in cash during the month, according to a 23 December filing with the US Securities and Exchange Commission.
On the other, Spirit still reports holding more than $800 million in cash as of 30 November – suggesting it has remaining runway to get its restructuring plan off the ground.
However, Spirit remains saddled with about $1.1 billion of long-term debt, the filing shows.
The carrier also reports a loss of $55 million on the month – continuing a long trend of loss-making operations – while generating $239 million in revenue.
Recent predictions of Spirit’s imminent operational shutown have not come to pass, as the ULCC appears strained but not necessarily on the brink of insolvency.
Spirit even seemed to poke fun at the rumours on 18 December when it revealed a “limited time” holiday sweater-inspired aircraft livery on one of its Airbus A320s, touting plans to operate more than 8,900 flights during the peak winter holiday travel period.
“We can’t wait to welcome our guests on board this holiday season and continue connecting them to the people and places they love most in 2026,” said Rana Ghosh, Spirit’s chief commercial officer.
Still, the airline is re-engaged in combination talks with competitor Frontier Airlines, Bloomberg reported last week. Spirit has acknowledged exploring acquisition scenarios as it seeks to emerge from Chapter 11 protection sometime next year.
Bloomberg, citing persons familiar with the negotiations, reports that a combination agreement could come together before year-end. But the situation remains uncertain, as Frontier has made multiple unsuccessful attempts to acquire Spirit in recent years.
