Spirit shares plunge after the airlines sounds the alarm on its ability to stay in business

Shares of Spirit Aviation Holdings, the parent company of Spirit Airlines, plummeted 39% to $2.15 after the airline warned of “substantial doubt” about its ability to continue operations following its recent emergence from Chapter 11 bankruptcy. Citing ongoing challenges like weak demand for domestic leisure travel and rising operational costs, Spirit indicated it may need to sell aircraft and real estate to improve liquidity.

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