00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Spirit Airlines will furlough 270 pilots this fall to align with a reduced off-season schedule
00:07as it works to regain financial stability, according to CNBC.
00:10Spirit Airlines will downgrade 140 pilots from captain to first officer,
00:14effective October 1st, according to the Airline Pilots Association.
00:18Carrier emerged from Chapter 11 bankruptcy in March,
00:21said the moves aimed to better align staffing with our flight schedule during softer demand.
00:25Spirit is shifting towards more premium offerings to regain profitability
00:28after years of relying on low-cost tickets.
00:31The Airline Pilots Association said the changes further erode pilot seniority and career value,
00:35calling the news hard for affected employees.
00:38Airline previously furloughed pilots out of its bankruptcy filing last year.
00:41For all things money, visit Benzinga.com.
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