Spirit Airlines Warns It May Not Survive Without New Funding

We’ve known for a while that things aren't pretty at Spirit, but this latest SEC filing suggests the hangover from its bankruptcy exit could be swift and severe.

Spirit Airlines may not survive as a going concern if it can’t raise cash quickly enough to satisfy creditors. The warning was contained within its latest SEC filing published on Monday evening.

“Management has concluded there is substantial doubt as to the Company’s ability to continue as a going concern within 12 months from the date these financial statements are issued,” Spirit said in the document.

Spirit only emerged from Chapter 11 bankruptcy in March. The ultra-low-cost carrier has since scrapped underperforming routes and made significant capacity cuts, especially for off-peak periods.

As part of this process, the airline restructured