Spirit

Carrier posts $317 million loss and warns it may not remain a going concern within one year.

The ultra-low-cost carrier continues trimming its network as it adjusts to a smaller fleet and ongoing bankruptcy proceedings.

The carrier is currently restructuring its operations under the supervision of a U.S. bankruptcy court.

The airline will furlough pilots, reduce corporate staff, and shutter some facilities early next year.

The airline is currently restructuring after declaring bankruptcy in August.

The carrier had planned to take delivery of up to 62 aircraft.

If approved, the carrier could cut nearly 41% of its total fleet.

The ultra-low-cost carrier said it has negotiated access to $475 million in new financing.

The carrier’s chief commercial officer, Rana Ghosh, told employees on Friday that the carrier will suspend roughly 40 routes and exit two airports.

The ultra-low-cost carrier said the move is intended to bring staffing levels in line with its fleet size and anticipated flying schedule.