Spirit Airlines sounds alarm on future ability to stay in business, months after exiting bankruptcy

Just five months after emerging from Chapter 11 bankruptcy protection, Spirit Airlines SAVE-N is warning about its future ability to stay in business.

Spirit Aviation Holdings, the budget carrier’s parent company, says it has “substantial doubt” about its ability to continue as a going concern over the next year – which is accounting-speak for running out of money. In a quarterly report issued Monday, Spirit pointed to “adverse market conditions” that it’s continued to face after a recent restructuring and other efforts to revive its business.