Spirit Airlines is a U.S. ultra-low-cost carrier (ULCC) that sells airline tickets primarily to price-sensitive leisure travelers, operating domestic U.S. routes and flights to Latin America and the Caribbean across 89 airports in 16 countries. Spirit's core product is a low base fare, with passengers paying separately for extras like checked bags, carry-on bags, and seat selection. Spirit is currently shifting toward a broader "value carrier" model, introducing bundled options including Spirit First (a premium cabin), Premium Economy, and a traditional unbundled fare, aiming to attract travelers beyond just the most price-sensitive. Spirit sells tickets primarily through spirit.com. Spirit generates revenue from ticket sales, ancillary fees, a subscription program (Spirit Saver$ Club), and a co-branded credit card partnership. Spirit keeps costs low through high-density seating, a single Airbus A320 family fleet, point-to-point routing, and direct-to-consumer sales. Spirit is currently operating under Chapter 11 bankruptcy — its second filing in under a year, having filed again in August 2025 after emerging from its first bankruptcy in March 2025. The current restructuring involves exiting underperforming routes, shrinking its fleet to 131 aircraft, reducing headcount to roughly 7,500 employees, and renegotiating labor and lease agreements. Spirit's financial difficulties stem from post-COVID industry overcapacity compressing fares, rising costs, and Pratt & Whitney engine defects that grounded portions of its A320neo fleet.