Who owns Spirit Airlines? Company to reportedly face a closure amid growing challenges

Spirit Airlines' quarterly filing with the Securities and Exchange Commission revealed that the company is facing "challenges and uncertainties." The airlines filed for bankruptcy in November 2024, citing a $2.5 billion loss since 2020. Despite this, in March 2025, the company came out of bankruptcy.

However, with their 225-page quarterly filing, the airlines shared that they have been facing low profits, and unless a significant change occurs, Spirit Airlines can survive for only 12 more months.

Dave Davis is the President and CEO of Spirit Airlines. According to ABC News' August 13, 2025, report, after media outlets covered the news of the airlines' alleged shutdown, the company received much attention, and their stock prices decreased by 40%.

Dave Davis sent an email to the company staff, encouraging them and insisting that they are taking every measure to make sure the airlines don't shut down.

In November 2024, the company sold 23 Airbus A320ceo and A231ceo aircraft. In July 2025, they fired 270 pilots and demoted 140 pilots to cut costs.

BREAKING: Spirit Airlines warns it could shut down within the next 12 months. pic.twitter.com/5eR43YyYo3

— Daily Loud (@DailyLoud) August 15, 2025

What did Spirit Airlines' CEO Dave Davis say about the reported shutdown?

In an email to his company staff, Dave Davis stated that, in the quarterly filing, outside auditors claimed that Spirit Airlines could shut down if it does not make major changes.

Davis shared that they are making changes, and he was "confident" that the airlines would overcome this situation and continue to serve Americans in the future. The CEO noted that they are a "critical part" of the American aviation industry, as they helped save people "hundreds of millions of dollars."

"Spirit is a critical part of the US aviation industry. We have saved consumers hundreds of millions of dollars, whether they fly with us or not. We remain hard at work on many initiatives to protect our unique franchise, our valued Team Members, our business partners, and our Guests who place their trust in us every day," the airlines' CEO wrote in the email.

The popular airline is known for its affordable prices. They offer low-base prices and charge extra for other amenities such as seat selection, water, carry-on bags, and checked bags.

The professor of economics at Loyola University, Kerry Tan, told Newsweek on August 14, 2025, that Spirit Airlines' shutdown could impact passengers, as other airlines could increase their prices.

"Spirit may be signaling the beginning of the end of their operations unless they can manage a dramatic turnaround. Prospective customers should be wary of the risks when booking flights... It would be hurtful for passengers to lose an airline that put downward pressure on airfares," the professor stated.

Kerry Tan shared that in that scenario, people could travel with Frontier and Allegiant airlines. However, the two ultra-low-cost carriers supposedly give "below average" performance.

For the unversed, in 2022, Spirit Airlines was reportedly going to merge with JetBlue Airlines. However, the US Department of Justice stated that the merger could result in consumers' loss as other airlines could raise their prices.

After a court trial in January 2024, the judge blocked the merger, stating the same reason.