After a federal judge early this year cited antitrust concerns and blocked JetBlue Airways (JBLU) from acquiring Spirit Airlines (SAVE) , the low-cost airline's financial situation has weakened. Multiple industry analysts have speculated about the prospect of bankruptcy and a report said it was one option Spirit was exploring.

Spirit Airlines will furlough about 330 pilots on Jan. 31, 2025, a company spokesperson told Reuters, as part of its efforts to cut costs and shore up its finances. The ultra-low-cost carrier has been losing money despite strong travel demand.

Spirit Airlines will furlough 330 pilots in early 2025 to cut costs amid financial struggles. Despite strong travel demand, the airline has faced mounting losses and has canceled a merger with JetBlue.

Spirit Airlines Inc. on Wednesday said it would furlough around 330 pilots early next year, the latest money-saving effort by the struggling discount carrier to stay afloat as it wrangles with debt, losses and weaker sales.

Spirit Airlines (NYSE:SAVE) is planning to furlough an additional 330 pilots at the end of January, adding to the 186 pilots that were furloughed in September. By reducing the number of pilots, the struggling carrier hopes to trim costs and preserve cash as it aims to avoid bankruptcy.