Spirit Airlines blames steep losses on 'intense' competition for budget passengers

Today's Business Headlines: 07/31/24

Spirit Airlines on Thursday reported steep second-quarter losses, blaming strong competition in the budget-friendly airline industry.

Spirit has struggled due to excess airline capacity, which has put a damper on its ability to draw in customers with ultra low prices. Spirit is also hoping to turn around its image and attract new customers with high-end flight offerings. The airline previously announced its plans to furlough about 240 pilots and postpone Airbus deliveries.

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