Spirit Airlines, facing financial struggles, warned in a SEC filing that it may not survive the next year without additional funding. The budget carrier, which emerged from bankruptcy in March, cited weak domestic travel demand and increased capacity as contributing factors. Its stock plummeted 40% following the announcement. The airline is exploring options including selling assets or seeking a merger, though a previous merger attempt failed. Other airlines are also experiencing decreased demand, particularly in economy class, reflecting a broader downturn in consumer spending.

Prepared by Christopher Adams and reviewed by editorial team.