ORLANDO, Fla. – Spirit Airlines plans to furlough 270 pilots and demote another 140 to match a downsized schedule, according to CNN.
The company said on Monday that the furloughs would go into effect on Nov. 1 while the downgrades for captains will happen on Oct. 1.
The Florida-based airline filed for bankruptcy last year.
The filing followed years of struggles for Spirit, which is known for its no-frills, low-cost flights. Spirit failed to bounce back from the COVID-19 pandemic, largely due to rising operating expenses and stiffer competition.
The airline lost more than $2.5 billion since the beginning of 2020 while also racking up mounting debt.
Earlier this year, however, the airline emerged from bankruptcy protection after finalizing debt restructuring. The restructuring deal allowed Spirit to convert $795 million of its debt into equity. The company says it’s also received a $350 million equity investment from existing investors to aid future operations.
Its largest hub is Fort Lauderdale-Hollywood International Airport. Spirit is the biggest airline at the airport, accounting for 30% of all passengers in August, according to Transportation Department figures.
Spirit’s second-biggest hub is also in Florida. It’s Orlando International Airport, where Spirit follows only Southwest in terms of passenger counts — ranking slightly ahead of Delta, Frontier and American. The airline also has big operations in Las Vegas, Atlanta and Los Angeles. The carrier’s largest maintenance facilities are in Detroit and Houston.
[WATCH BELOW: News 6’s Justin Warmoth talks schedule cuts, pilot furloughs with expert]
The Associated Press contributed to this report.