Part 2/10:
Spirit's low-cost model enabled it to achieve staggering profitability levels, reaching an operating profit of $511 million in 2015, which accounted for 24% of its revenue—a remarkable feat in the competitive airline sector. The airline appeared to have successfully carved out a profitable niche, offering "rock-bottom service for rock-bottom prices."
However, as the old adage goes, all good things must come to an end. Since 2020, Spirit's profitability has dramatically declined, culminating in their bankruptcy filing in November 2024. This drastic shift raised serious concerns about the airline's future in a rapidly evolving market.