Urban Indiana

Spirit Airlines offers buyouts to salaried employees to cut costs

Spirit Airlines is offering voluntary exit packages to salaried employees, the budget carrier's latest cost-cutting measure as it expects financial strains to continue next year.

The airline has been facing weak off-peak demand and last month said it will have to ground an average of 26 Airbus A320neo aircraft for inspections of engines made by RTX unit Pratt & Whitney after that company disclosed a manufacturing defect in August, straining its capacity.

"The last few months have been a testament to our resilience and dedication as a company, but we must return to profitability, which will require a series of tough decisions," CEO Ted Christie said in a staff memo on Wednesday, which was seen by CNBC.

More below:
https://www.cnbc.com/2023/11/29/spirit-airlines-offers-buyouts-to-salaried-employees.html