Ahead of Holidays, Major Airline to Sell Planes + Lay Off Workers

Nobody is safe from inflation and the looming retail apocalypse — not even the airline business.

Most specifically, Spirit Airlines is feeling the pain of rising costs. The company has announced that they plan to sell 23 of their Airbus airplanes.

This is not to clear room for new inventory, but to make back some money that they have lost. The sale of these 23 planes will bring Spirit roughly $500 million dollars. But that’s not enough to impress the shareholders, so they upped the ante.

Spirit says they will come up with another $80+ million in available money by cutting their workforce and eliminating some positions. Spirit owes their creditors about a billion dollars. This isn’t like you owing your aunt $28 bucks — this is some serious cheddar.

Word of the new cost-cutting plan over at Spirit should be enough to keep their creditors off their heels until after the holidays, but that money will be due then.

Wan to hear something else that shows how much the airline is struggling?

Spirit Airlines stock is down over 80 percent from this time last year.

No word on which employees or jobs will be cut, but with an airline that is already known as the more budget-friendly way to fly, this will be a hit to their reputation as they slim down their assets and try to stay afloat.

Seems as if they need to throw a pep rally at Sprit to get their Spirit back in the right direction.