Spirit Airlines Faces Turbulence: Training Halt and Massive Losses
Spirit Airlines will suspend training for new pilots and flight attendants next month due to slower growth and the expected grounding of dozens of aircraft for inspections caused by a manufacturing problem with some Airbus planes' engines. The company had already slowed hiring and captain upgrades. The budget airline also posted a net loss of $157.6 million, more than four times its loss a year ago, and forecast negative margins for the last three months of the year. JetBlue Airways is in the process of trying to acquire Spirit, a deal the Justice Department has sued to block.