00:00It's Benzinga, bringing Wall Street to Main Street.
00:02About 17,000 Spirit Airlines employees are out of work
00:06after the budget airline collapsed in early May, according to Reuters.
00:10Thousands of pilots and flight attendants are now scrambling for new jobs in an industry
00:14with limited hiring capacity. Major airlines, including United, Delta, American, and Southwest
00:20have expressed willingness to absorb some displaced workers, but hiring remains constrained.
00:26United plans to hire 1,300 pilots in 2026 and has received 2,800 applications from Spirit employees.
00:34The Flight Attendants Union estimates it could take four to five months
00:37for several hundred of Spirit's 3,500 flight attendants to land new jobs.
00:42Rehired workers must also restart at the bottom of pay scales and lose seniority,
00:46a costly reset for pilots and flight attendants alike.
00:50For all things money, visit Benzinga.com.
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