The message from Spirit Airlines, delivered this week in an official financial filing, couldn't be more stark.
"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."
Putting that in simpler terms—after all, Spirit is supposed to be a no-frills carrier—if the airline can't get more cash, it'll probably die.
Debt-plagued Spirit has been gasping for air for a while now. The airline posted a net loss of $1.2 billion last year, filing for bankruptcy last November. In March, Spirit limped out of bankruptcy with a new restructuring, much like passengers emerge with realigned lower backs after hours in Spirit seats that don't recline.
Spirit got through Chapter 11. But it can't survive the depressed U.S. travel market.
As Pauline Frommer warned last week, the United States is the only major western nation whose visitor numbers are going down. International tourists are staying away, and domestic tourists are holding their purses close.
Spirit cited exactly that downturn in its financial cry for help, saying the airline "has continued to be affected by adverse market conditions, including elevated domestic capacity and continued weak demand for domestic leisure travel in the second quarter of 2025."
Is it safe to buy a ticket on Spirit Airlines?
Is Spirit going to go out of business next week? Probably not. There are still a few last-ditch lifelines that could be thrown to the carrier—and the wording of the filing appeared to all but beg the financial community for anyone willing to help.
As Edward Russell from The Points Guy notes, "One key date outlined in the filing is Dec. 31, 2025. That is when Spirit must renegotiate an agreement with its credit card processor, one which it warned could require 'additional collateral' that would reduce the amount of liquidity it has available."
Still, it's not very often that an airline explicitly warns passengers that it's about to walk the plank.
As a traveler, you probably don't want to have to keep an eye on the financial columns in order to decipher the health of the airline you buy tickets from.
If you do want to book a Spirit flight, you might be wise to heed the warnings and make sure the journey is in the immediate future.
Would I buy a ticket from Spirit Airlines for a flight that's more than a few months away? I wouldn't. Not with a red flag like that report.
Now might be a good time to redeem those Spirit loyalty points while you still can.
Should you purchase a seat on a Spirit flight—after all, for some Americans, that's their only affordable option—then at least make sure you make the purchase with a credit card. That won't spare you the hassle of scrambling for another flight in the event that Spirit gives up the ghost, but you will at least be able to get your money back from your credit card issuer for services not rendered.