Spirit Airlines plans a much smaller future as it tries to survive bankruptcy — again

Spirit Airlines is hanging on by a thread –but it is hanging on.

The budget airline announced a plan Tuesday that would put it on track to exit its second bankruptcy in less than two years and stay in operation. The arrangement will keep the company alive while shrinking its expenses and operations down to an even smaller size than what it aimed for during its first bankruptcy, which it filed for in November 2024.

With financial support from its creditors, Spirit says it plans...