Part 7/10:

After the pandemic, while air travel rebounded quickly, Spirit struggled to regain its footing. Despite reporting record revenues exceeding $5 billion in 2022, the airline continued to post operating losses. Several factors contributed to these struggles, including elevated operating costs from rising fuel prices and labor wages, inability to raise ticket prices amid stiff competition, and a decline in load factor from 85% to around 82%.

As new low-cost carriers emerged and the traditional airlines adapted by introducing basic economy fares—offering cheaper ticket options with fewer perks—Spirit's competitive advantage diminished. Travelers increasingly turned to major airlines that could provide more substantial services even at slightly higher prices.