• Spirit Airlines will reduce flight capacity by 25% starting in November.
• CEO Dave Davis warned of job cuts as part of the restructuring efforts.
• The airline has filed for bankruptcy twice within a year.
• Service will be halted in a dozen U.S. cities.
• Financial struggles raise concerns about the future of budget travel.

Spirit Airlines is planning to cut its flight capacity by 25% as part of a restructuring initiative aimed at optimizing its network. CEO Dave Davis communicated this decision in a memo to employees, stating the cuts would focus on the airline's strongest markets, with implementation set for November. The decision comes after the airline's second bankruptcy filing within the past year, which acknowledges substantial challenges in its financial setup, including a reported 20% drop in revenue compared to the previous year, according to Business Insider and CBS News.

The planned capacity cut will accompany potential layoffs, as Davis remarked that the reductions are part of efforts to emerge as a more efficient airline. Specific details regarding the number of affected employees or roles remain unspecified. In addition to the flight cuts, Spirit will halt operations in a dozen cities, with a final decision on the new schedule expected shortly, as reported by Reuters and CBS News.

These actions are part of a broader evaluation of Spirit's operational structure as it seeks to stabilize its financial standing amid increased competition in the airline industry. Notably, United Airlines has expressed no interest in acquiring Spirit's assets, which may become available through the restructuring process, highlighting the precarious situation for budget airlines in the current market, as mentioned by Reuters and Business Insider.