Spirit has successfully taken cost-cutting measures in the past, but the budget carrier still needs more liquidity, or it ...

Spirit Airlines, which emerged from bankruptcy in March, announced 270 pilot furloughs while the Air Line Pilots Association works on voluntary options.

Spirit Airlines said on Monday that it will furlough about 270 pilots while demoting another 140, as the cash-strapped budget carrier looks to scale down its workforce to match a downsized schedule.

Spirit Airlines is preparing to furlough 270 pilots this fall. The furloughs will go into effect on November 1, the budget-friendly airline said on Monday.