Spirit Airlines on Monday warned investors and passengers that it may no longer be in business in a year even after a successful bankruptcy restructuring and recent attempts to generate new sources of revenue.

The alert came in a 222-page financial statement the Broward company is required to submit every quarter to the U.S. Securities and Exchange Commission, a regulatory body.

The airline described several issues it’s facing on whether the company can meet all financial commitments with current cash on hand and future revenue forecasts amid tough economic conditions.

“Management has concluded there is substantial doubt as to our ability to continue as a going concern within 12 months from the date these financial statements are issued,” Spirit wrote in the financial statement dated Aug. 11.

“Going concern” is a business principle that assumes a company will stay in business for the foreseeable future, according to the Corporate Finance Institute. It indicates that “every decision in a company is taken with the objective in mind of running the business rather than of liquidating it.” When future existence is in doubt, public companies are required to acknowledge that in financial statements.

The company did not say on Monday how or whether current passengers would be affected.

Spirit’s concern is the latest turn in what’s been a roller-coaster saga for travelers, employees and vendors that depend on the company, whose headquarters are in Dania Beach.

Less than a week ago, the carrier announced two new flights from Fort Lauderdale-Hollywood International Airport, to Grand Cayman and Belize City. That came about two weeks after it announced flights between FLL and Key West for the first time. The airline was counting on the new routes injecting fresh life into the company.

In July, Spirit also announced new direct flights between FLL and Macon, Georgia, and the airline has said it will have 100 peak day flights at FLL by the end of 2025. Spirit continues to be the Broward airport’s top airline in terms of passenger volume.

Since it came out of bankruptcy on Feb. 20, the airline has appointed a new president, Dave Davis, and sought to offer more “premium” offerings, like extra legroom, leaving behind its low-cost roots.

In Monday’s 10-Q financial filing, first reported by Bloomberg and the blog View from the Wing, Spirit executives also said they’d consider selling additional assets but admitted even that may not be enough.

‘If these initiatives are unsuccessful, management believes it is probable that we will be unable to comply with the minimum liquidity covenants under our debt obligations and credit card processing agreement at some point in the next 12 months,” the company said. That “would result in an event of default.”

Spirit executives said current economic conditions haven’t helped.

“We have continued to be affected by adverse market conditions, including elevated domestic capacity and continued weak demand for domestic leisure travel in the second quarter of 2025, resulting in a challenging pricing environment.”

“As a result, we continue to experience challenges and uncertainties in our business operations and expect these trends to continue for at least the remainder of 2025.”

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