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Why Spirit Airlines Is Struggling

Spirit Airlines, the no-frills carrier known for its bright yellow planes, brash style and low fares, has helped revolutionize the way we pay for travel. To offset its bare bones fares the carrier charges for everything from carry-on bags to bottles of water. As of 2019 Spirit Airlines had 13 consecutive years of profitability. But the airline that travelers love to hate has fallen on tough times. With the coronavirus pandemic causing passenger traffic to plummet Spirit announced third quarter 2020 total operating revenue of $402 million, a 60 percent drop from a year earlier. To keep passengers safe and onboard Spirit requires face coverings for passengers and crew, uses foggers to disinfect the aircraft and has waived some change fees. But is it enough? And will Spirit Airlines be able to bounce back from the economic fallout battering the airline industry? » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Subscribe to CNBC PRO: https://cnb.cx/2NLi9AN #CNBC Why Spirit Airlines Is Struggling
Tue Jan 12 2021 | 18:33:46 GMT+0000 (Coordinated Universal Time)

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