CHICAGO (Reuters) -Spirit Airlines said on Tuesday it will fully implement its transformation plan by the end of 2027, when the bankrupt carrier expects to produce about $220 million in net income.
In a regulatory filing, the discount airline estimated its adjusted operating loss in 2025 at $819 million.
The ultra-low-cost carrier has reduced its network, fleet size and plans to furlough pilots and flight attendants to put it on firmer financial footing, after the airline filed for bankruptcy for a second time in a year in August.
Spirit said its earnings before interest, taxes, depreciation, amortization and rental costs (EBITDAR), a measure of operating performance, are estimated to be about $900 million by the end of 2027.
The carrier estimates $211 million in savings from two furloughs, one of which has already been executed. Spirit said fleet reductions will result in annualized estimated rent savings of $400 million and a reduction in lease liability of over $3 billion.
(Reporting by Rajesh Kumar Singh and Doyinsola Oladipo in New York; Editing by Chris Reese and Deepa Babington)
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