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Fortune

Chris Morris

Spirit Airlines warns it might not be able to survive the next year

Spirit Spirit Airlines Company

A Spirit Airlines plane on the tarmac (Credit: Kevin Carter—Getty Images)

Spirit Airlines warns it could be out of business within a year. In its latest earnings report, the discount carrier said its financials needed to improve dramatically or it needed to find additional financing. Otherwise, “there is substantial doubt” it can survive.

Spirit Airlines has warned it could be grounded permanently if its financial results don’t improve and it’s unable to raise cash.

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